5 Best Performing Biotech Stocks in 2022

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1. Akero Therapeutics, Inc. (NASDAQ:AKRO)

Number of Hedge Fund Holders: 27

YTD Share Price Gain as of December 28: 129.12%

Akero Therapeutics, Inc. (NASDAQ:AKRO) is a California-based cardio-metabolic nonalcoholic steatohepatitis (NASH) company, which develops medicines to restore metabolic balance and improve overall health. On December 8, the FDA granted breakthrough therapy designation to Akero Therapeutics, Inc. (NASDAQ:AKRO)’s efruxifermin to treat nonalcoholic steatohepatitis (NASH). It is one of the best performing biotech stocks this year, with shares up 129% year-to-date as of December 28. 

On November 7, H.C. Wainwright analyst Ed Arce raised the price target on Akero Therapeutics, Inc. (NASDAQ:AKRO) to $64 from $62 and maintained a Buy rating on the shares following the Q3 results.

According to Insider Monkey’s data, 27 hedge funds were bullish on Akero Therapeutics, Inc. (NASDAQ:AKRO) at the end of Q3 2022, compared to 19 funds in the last quarter. David Witzke and Michael Gregory’s Avidity Partners Management held a significant position in the company, comprising 3.12 million shares worth $106.30 million. 

Follow Akero Therapeutics Inc. (NASDAQ:AKRO)

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