Here’s Why Akero Therapeutics, Inc. (AKRO) Stock Declined -9.71% Today

The biggest losers of the session on the Wall Street include Akero Therapeutics, Inc. (NASDAQ:AKRO), which fell -2.46 points or -9.71% to trade at $22.87 as last check. The stock closed last session at $25.33 and sets an active trading volume day with a reported 96925 contracts so far this session. AKRO shares had a relatively better volume day versus average trading capacity of 160.72 thousand shares, but with a 27.8 million float and a -5.91% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AKRO stock indicates that the average analyst price target is $32 per share. This means the stock has a potential increase of 39.92% from where the AKRO share price has been trading recently.

Looking at the current readings for Akero Therapeutics, Inc., the two-week RSI stands at 46.13. This figure suggests that AKRO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AKRO readings is similarly very revealing as it has a stochastic reading of 63.44% at this stage. This figure means that AKRO share price today is being neutral.

Technical chart claims that Akero Therapeutics, Inc. (AKRO) would settle between $25.92/share to $26.5/share level. However, if the stock price goes below the $24.72 mark, then the market for Akero Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $24.1 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.22. 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.

Analysts at Canaccord Genuity, assumed coverage of AKRO assigning Buy rating, according to their opinion released on February 10. ROTH Capital, analysts launched coverage of Akero Therapeutics, Inc. (NASDAQ:AKRO) stock with a Buy recommendation, according to their flash note issued to investors on July 15. Analysts at JP Morgan, made their first call for the equity with a Overweight recommendation, according to a research note that dated back to July 15.

AKRO equity has an average rating of 1.75, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Akero Therapeutics, Inc. (NASDAQ:AKRO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.