Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng Sells 7,855 Shares

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 7,855 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $241,855.45. Following the sale, the chief executive officer now directly owns 597,562 shares of the company’s stock, valued at approximately $18,398,933.98. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 2nd, Andrew Cheng sold 25,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $32.09, for a total transaction of $802,250.00.
• On Friday, November 1st, Andrew Cheng sold 108,366 shares of Akero Therapeutics stock. The stock was sold at an average price of $31.73, for a total transaction of $3,438,453.18.
• On Friday, October 18th, Andrew Cheng sold 63,539 shares of Akero Therapeutics stock. The stock was sold at an average price of $31.53, for a total transaction of $2,003,384.67.
• On Wednesday, October 16th, Andrew Cheng sold 24,992 shares of Akero Therapeutics stock. The shares were sold at an average price of $31.14, for a total value of $778,250.88.

Akero Therapeutics Stock Performance

AKRO stock opened at $29.03 on Friday. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.03 billion, a PE ratio of -7.74 and a beta of -0.23. The business has a 50 day moving average of $30.79 and a 200-day moving average of $27.01. Akero Therapeutics, Inc. has a 12-month low of $15.32 and a 12-month high of $37.00.

Akero Therapeutics (NASDAQ:AKRO) last announced its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AKRO shares. Citigroup started coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They issued a “buy” rating and a $65.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.83.

Institutional Trading of Akero Therapeutics

Several hedge funds have recently made changes to their positions in AKRO. Mirae Asset Global Investments Co. Ltd. increased its holdings in Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after acquiring an additional 446 shares during the last quarter. Eastern Bank purchased a new stake in shares of Akero Therapeutics in the third quarter worth $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Akero Therapeutics in the third quarter worth $205,000. Victory Capital Management Inc. bought a new stake in Akero Therapeutics during the third quarter valued at $211,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Akero Therapeutics during the third quarter worth about $265,000.

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.