Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng Sells 30,000 Shares

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $35.23, for a total value of $1,056,900.00. Following the completion of the transaction, the chief executive officer now owns 624,324 shares in the company, valued at $21,994,934.52. This represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Andrew Cheng also recently made the following trade(s):

• On Wednesday, March 12th, Andrew Cheng sold 1,738 shares of Akero Therapeutics stock. The shares were sold at an average price of $44.88, for a total value of $78,001.44.
• On Monday, March 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $41.77, for a total transaction of $1,253,100.00.
• On Monday, February 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $52.73, for a total transaction of $1,581,900.00.
• On Monday, January 27th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO traded up $0.85 during trading on Friday, reaching $35.67. 814,604 shares of the stock traded hands, compared to its average volume of 857,773. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The stock has a market capitalization of $2.84 billion, a P/E ratio of -9.51 and a beta of -0.18. Akero Therapeutics, Inc. has a 52-week low of $17.86 and a 52-week high of $58.40. The company has a 50-day moving average of $45.27 and a 200-day moving average of $35.81.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. abrdn plc lifted its position in shares of Akero Therapeutics by 118.7% during the fourth quarter. abrdn plc now owns 269,782 shares of the company’s stock worth $7,505,000 after acquiring an additional 146,424 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Akero Therapeutics by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock worth $15,042,000 after purchasing an additional 8,096 shares in the last quarter. FMR LLC boosted its stake in Akero Therapeutics by 732.1% in the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock worth $870,000 after purchasing an additional 26,691 shares during the period. Proficio Capital Partners LLC purchased a new position in Akero Therapeutics during the 4th quarter valued at about $320,000. Finally, SG Americas Securities LLC increased its position in shares of Akero Therapeutics by 4,022.1% during the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock valued at $16,636,000 after buying an additional 583,486 shares during the period.

Analysts Set New Price Targets

AKRO has been the subject of several analyst reports. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. UBS Group upped their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Canaccord Genuity Group raised their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, HC Wainwright boosted their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $76.29.

Akero Therapeutics Company Profile

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.