Fact Check: What’s up with Akero Therapeutics, Inc. (AKRO) today

The biggest gainers of the session on the Wall Street include Akero Therapeutics, Inc. (NASDAQ:AKRO), which rose 0.38 points or 2.25% to trade at $17.27 as last check. The stock closed last session at $16.89 and sets an active trading volume day with a reported 119802 contracts so far this session. AKRO shares had a relatively better volume day versus average trading capacity of 335.39 thousand shares, but with a 26.33 million float and a -7.96% run over a week, it’s definitely worth keeping an eye on. AKRO share price has been trading recently between $16.1487 and $17.49.

The shorts are climbing into Akero Therapeutics, Inc. (AKRO) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in AKRO shares. While short interest still represents only 0% of AKRO’s float, the number of shares shorted have risen by 52797. The number of shares shorted advanced to 52797 shares, up from shares during the preceding fortnight. With average daily trading volumes at 406255 shares, days to cover increased to about days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “How this Peninsula biotech plans to turn a $100 million round into ‘next generation’ of cancer drugs” and dated July 09, 2019.

Technical chart claims that Akero Therapeutics, Inc. (AKRO) would settle between $17.54/share to $18.18/share level. However, if the stock price goes below the $16.2 mark, then the market for Akero Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $15.5 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.