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

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $54.90, for a total value of $1,647,000.00. Following the transaction, the chief executive officer now directly owns 716,062 shares of the company’s stock, valued at $39,311,803.80. This represents a 4.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 10th, Andrew Cheng sold 7,855 shares of Akero Therapeutics stock. The stock was sold at an average price of $30.79, for a total value of $241,855.45.
• 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 value of $802,250.00.
• On Friday, November 1st, Andrew Cheng sold 108,366 shares of Akero Therapeutics stock. The shares were sold at an average price of $31.73, for a total transaction of $3,438,453.18.

Akero Therapeutics Price Performance

Shares of AKRO stock opened at $54.00 on Thursday. 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’s fifty day simple moving average is $29.31 and its 200 day simple moving average is $28.51. Akero Therapeutics, Inc. has a one year low of $15.32 and a one year high of $58.40. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -14.40 and a beta of -0.19.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AKRO. Morgan Stanley boosted their price objective on shares of Akero Therapeutics from $46.00 to $96.00 and gave the stock an “overweight” rating in a report on Tuesday. Citigroup upped their price target on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. HC Wainwright lifted their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group upped their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.57.

Institutional Trading of Akero Therapeutics

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Akero Therapeutics by 54.4% during the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after acquiring an additional 2,782,029 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Akero Therapeutics by 2.9% during the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock worth $203,053,000 after purchasing an additional 201,225 shares during the last quarter. RTW Investments LP raised its holdings in shares of Akero Therapeutics by 9.0% in the third quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock valued at $169,829,000 after buying an additional 487,450 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Akero Therapeutics during the 3rd quarter worth about $37,392,000. Finally, SG Americas Securities LLC grew its holdings in Akero Therapeutics by 4,022.1% during the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after acquiring an additional 583,486 shares during the last quarter.

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.