Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Sells $3,438,453.18 in Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 108,366 shares of Akero Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.73, for a total value of $3,438,453.18. Following the completion of the sale, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at approximately $19,209,881.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 transaction of $2,003,384.67.
• On Wednesday, October 16th, Andrew Cheng sold 24,992 shares of Akero Therapeutics stock. The stock was sold at an average price of $31.14, for a total transaction 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 Stock Down 1.2 %

Shares of NASDAQ:AKRO opened at $34.87 on Friday. The firm has a fifty day moving average price of $28.72 and a two-hundred day moving average price of $25.04. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -10.23 and a beta of -0.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.89 and a quick ratio of 24.89. Akero Therapeutics, Inc. has a one year low of $13.39 and a one year high of $37.00.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.09. Analysts anticipate that Akero Therapeutics, Inc. will post -3.64 EPS for the current fiscal year.

Institutional Trading of Akero Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in AKRO. Vanguard Group Inc. increased its stake 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 acquiring an additional 584,875 shares during the last quarter. Perceptive Advisors LLC increased its position in shares of Akero Therapeutics by 8.1% during the 2nd 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Akero Therapeutics by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock valued at $5,894,000 after buying an additional 61,988 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Akero Therapeutics by 26.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock worth $2,514,000 after buying an additional 22,195 shares during the last quarter. Finally, Rheos Capital Works Inc. boosted its stake in Akero Therapeutics by 27.8% in the third quarter. Rheos Capital Works Inc. now owns 276,000 shares of the company’s stock worth $7,918,000 after buying an additional 60,000 shares in the last quarter.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a research report 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. According to MarketBeat, Akero Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $43.20.

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.