Andrew Cheng Sells 24,992 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 24,992 shares of Akero Therapeutics stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.14, for a total transaction of $778,250.88. Following the completion of the transaction, the chief executive officer now owns 605,417 shares in the company, valued at approximately $18,852,685.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 value of $2,003,384.67.
• On Tuesday, September 10th, Andrew Cheng sold 1,738 shares of Akero Therapeutics stock. The shares were sold at an average price of $26.18, for a total value of $45,500.84.

Akero Therapeutics Trading Up 1.3 %

NASDAQ AKRO opened at $31.23 on Friday. Akero Therapeutics, Inc. has a 52-week low of $11.25 and a 52-week high of $37.00. The firm has a 50-day moving average price of $27.36 and a 200 day moving average price of $24.25. The stock has a market capitalization of $2.16 billion, a P/E ratio of -9.76 and a beta of -0.25. The company has a quick ratio of 24.89, a current ratio of 24.89 and a debt-to-equity ratio of 0.04.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, August 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.09. Equities research analysts expect that Akero Therapeutics, Inc. will post -3.64 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.20.

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AKRO. Wellington Management Group LLP grew its stake in shares of Akero Therapeutics by 247.7% during the 4th quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock worth $67,294,000 after purchasing an additional 2,053,028 shares during the period. Janus Henderson Group PLC boosted its holdings in Akero Therapeutics by 42.2% during the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock worth $154,589,000 after buying an additional 1,815,569 shares in the last quarter. Redmile Group LLC grew its position in Akero Therapeutics by 67.5% during the first quarter. Redmile Group LLC now owns 1,858,702 shares of the company’s stock worth $46,951,000 after buying an additional 749,226 shares during the period. Vanguard Group Inc. increased its holdings in Akero Therapeutics by 19.0% in the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after buying an additional 584,875 shares in the last quarter. Finally, Long Focus Capital Management LLC lifted its position in shares of Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock valued at $16,882,000 after acquiring an additional 391,000 shares during the period.

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.