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

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 7,855 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $241,855.45. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 stock was 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 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 transaction of $778,250.88.

Akero Therapeutics Trading Down 4.3 %

Shares of Akero Therapeutics stock traded down $1.32 during trading on Thursday, reaching $29.03. 332,877 shares of the company were exchanged, compared to its average volume of 844,207. Akero Therapeutics, Inc. has a twelve month low of $15.32 and a twelve month high of $37.00. The business has a 50-day moving average price of $30.77 and a 200-day moving average price of $26.99. 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 capitalization of $2.03 billion, a price-to-earnings ratio of -7.74 and a beta of -0.23.

Akero Therapeutics (NASDAQ:AKRO) last posted 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). Sell-side analysts anticipate that Akero Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Akero Therapeutics

Large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Akero Therapeutics by 21.6% during the third 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 in the last quarter. Eastern Bank bought a new position in shares of Akero Therapeutics in the 3rd quarter valued at about $100,000. Summit Financial Wealth Advisors LLC acquired a new stake in shares of Akero Therapeutics in the third quarter valued at about $205,000. Victory Capital Management Inc. bought a new stake in Akero Therapeutics during the third quarter worth about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Akero Therapeutics during the third quarter valued at approximately $265,000.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup started coverage on Akero Therapeutics in a report on Monday, November 18th. They set a “buy” rating and a $65.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.