Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng Sells 1,738 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total transaction of $78,001.44. Following the completion of the transaction, the chief executive officer now owns 654,324 shares of the company’s stock, valued at $29,366,061.12. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $41.77, for a total transaction of $1,253,100.00.
• On Monday, February 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $52.73, for a total value of $1,581,900.00.
• On Monday, January 27th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $54.90, for a total value of $1,647,000.00.

Akero Therapeutics Trading Down 1.6 %

Shares of NASDAQ:AKRO opened at $44.15 on Friday. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The stock’s fifty day moving average price is $42.10 and its 200-day moving average price is $33.79. The company has a market cap of $3.52 billion, a P/E ratio of -11.77 and a beta of -0.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Institutional Trading of Akero Therapeutics

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Akero Therapeutics by 54.4% during the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock valued at $226,554,000 after buying an additional 2,782,029 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Akero Therapeutics in the third quarter worth about $37,392,000. RTW Investments LP lifted its position in shares of Akero Therapeutics by 15.9% during the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock valued at $190,840,000 after buying an additional 940,388 shares in the last quarter. Deep Track Capital LP grew its stake in shares of Akero Therapeutics by 116.0% during the 4th quarter. Deep Track Capital LP now owns 1,490,000 shares of the company’s stock valued at $41,452,000 after acquiring an additional 800,216 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of Akero Therapeutics in the fourth quarter worth approximately $18,059,000.

Analyst Ratings Changes

AKRO has been the subject of a number of research reports. HC Wainwright increased their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Citigroup upped their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. UBS Group boosted their price target on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $76.29.

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.