Insider Selling: Akero Therapeutics, Inc. (NASDAQ:AKRO) COO Sells 10,000 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $32.13, for a total transaction of $321,300.00. Following the sale, the chief operating officer now directly owns 206,286 shares of the company’s stock, valued at $6,627,969.18. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Jonathan Young also recently made the following trade(s):

• On Friday, November 1st, Jonathan Young sold 50,716 shares of Akero Therapeutics stock. The stock was sold at an average price of $31.57, for a total value of $1,601,104.12.
• On Monday, October 14th, Jonathan Young sold 40,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $30.15, for a total value of $1,206,000.00.
• On Tuesday, October 1st, Jonathan Young sold 10,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $28.18, for a total transaction of $281,800.00.
• On Tuesday, September 10th, Jonathan Young sold 568 shares of Akero Therapeutics stock. The stock was sold at an average price of $26.18, for a total transaction of $14,870.24.

Akero Therapeutics Price Performance

Shares of AKRO stock opened at $29.70 on Friday. The business’s 50 day moving average price is $30.60 and its 200-day moving average price is $26.63. Akero Therapeutics, Inc. has a fifty-two week low of $15.32 and a fifty-two week high of $37.00. The firm 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 debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

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

Institutional Investors Weigh In On Akero Therapeutics

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

Analysts Set New Price Targets

AKRO has been the subject of several recent research reports. Citigroup started coverage on Akero Therapeutics in a research report on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.