Andrew Cheng Sells 25,000 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 25,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $32.09, for a total transaction of $802,250.00. Following the completion of the transaction, the chief executive officer now owns 605,417 shares in the company, valued at $19,427,831.53. This trade represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• 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.
• 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.
• On Tuesday, September 10th, Andrew Cheng sold 1,738 shares of Akero Therapeutics stock. The stock was sold at an average price of $26.18, for a total value of $45,500.84.

Akero Therapeutics Price Performance

Shares of AKRO stock opened at $29.70 on Friday. The business has a fifty day simple moving average of $30.60 and a 200 day simple moving average of $26.63. The company has a market cap of $2.07 billion, a P/E ratio of -7.92 and a beta of -0.23. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a twelve month low of $15.32 and a twelve month high of $37.00.

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

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Akero Therapeutics by 54.4% during the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after buying an additional 2,782,029 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Akero Therapeutics by 2.9% in the 3rd 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 in the last quarter. RTW Investments LP raised its position in 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 purchasing an additional 487,450 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock valued at $35,188,000 after purchasing an additional 112,426 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Akero Therapeutics during the third quarter worth about $37,392,000.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a report on Monday, November 18th. Citigroup began coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.83.

About Akero Therapeutics

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.