5 Best Performing NASDAQ Stocks in 2022

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

Number of Hedge Fund Holders: 27

YTD Share Price Gain as of December 27: 125.12%

Akero Therapeutics, Inc. (NASDAQ:AKRO) is a California-based cardio-metabolic nonalcoholic steatohepatitis (NASH) company engaged in the development of medicines for the restoration of metabolic balance and improving overall health. On December 8, the U.S. Food and Drug Administration granted breakthrough therapy designation to Akero Therapeutics, Inc. (NASDAQ:AKRO) efruxifermin to treat nonalcoholic steatohepatitis (NASH). The company added that it expects to report results from an ongoing phase 2b study, dubbed SYMMETRY, in the second half of 2023. It is one of the best performing NASDAQ stocks to invest in. 

On November 7, H.C. Wainwright analyst Ed Arce raised the firm’s price target on Akero Therapeutics, Inc. (NASDAQ:AKRO) to $64 from $62 and kept 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 September 2022, compared to 19 funds in the prior quarter. Alkeon Capital Management is the largest stakeholder of the company, with 3.16 million shares worth $107.6 million. 

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