Why Akero Therapeutics, Inc. (AKRO) Skyrocketed Today

We recently published a list of These 10 Firms Just Beat the Market Today. In this article, we are going to take a look at where Akero Therapeutics, Inc. (NASDAQ:AKRO) stands against other stocks that skyrocketed today.

Ten companies boasted whopping gains on Tuesday despite a wider market pessimism, as a flurry of corporate developments, including impressive earnings and bullish outlooks, sparked buying appetite.

In contrast, Wall Street’s main indices all finished in the red territory. The Dow Jones was down by 0.27 percent, the S&P 500 dropped 0.39 percent, and the tech-heavy Nasdaq declined 0.38 percent.

In this article, we named the 10 best-performing stocks during the trading session and detailed the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

Akero Therapeutics, Inc. (NASDAQ:AKRO)

Akero Therapeutics snapped a two-day losing streak on Tuesday, jumping 24.72 percent to close at $47.57 apiece as investors gobbled up shares following news that it was exploring a sale.

According to a report by StreetInsider, Akero Therapeutics, Inc. (NASDAQ:AKRO) is now in talks with an investment bank to assist with the process. However, it added that the company’s early interest and strategic review might not necessarily translate to a sale.

In its latest earnings release, Akero Therapeutics, Inc. (NASDAQ:AKRO) widened its net loss by 32.6 percent to $70.7 million from $53.3 million in the same period last year.

Operating expenses surged by 34.9 percent to $80.88 million from $59.95 million year-on-year. Net loss per common share was at 90 cents, similar to the same period a year ago.

Akero Therapeutics, Inc. (NASDAQ:AKRO) is a clinical-stage company developing transformational treatments for patients with serious metabolic diseases marked by high unmet medical need, including metabolic dysfunction-associated steatohepatitis (MASH).

Overall, AKRO ranks 10th on our list of today's best-performing stocks. While we acknowledge the potential of AKRO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AKRO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.