Insider Selling: Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Sells 30,000 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $52.73, for a total value of $1,581,900.00. Following the transaction, the chief executive officer now owns 686,062 shares of the company’s stock, valued at approximately $36,176,049.26. The trade was a 4.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.
• On Tuesday, December 10th, Andrew Cheng sold 7,855 shares of Akero Therapeutics stock. The shares were sold at an average price of $30.79, for a total value of $241,855.45.
• On Monday, December 2nd, Andrew Cheng sold 25,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $32.09, for a total value of $802,250.00.

Akero Therapeutics Stock Down 2.3 %

Shares of NASDAQ AKRO opened at $49.95 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The company has a market cap of $3.49 billion, a P/E ratio of -13.32 and a beta of -0.11. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The firm has a 50-day simple moving average of $33.42 and a two-hundred day simple moving average of $30.24.

Institutional Trading of Akero Therapeutics

Several institutional investors have recently added to or reduced their stakes in AKRO. Handelsbanken Fonder AB lifted its stake in Akero Therapeutics by 12.4% in the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock worth $574,000 after purchasing an additional 2,200 shares during the last quarter. Creative Planning bought a new stake in shares of Akero Therapeutics during the third quarter valued at approximately $371,000. Rheos Capital Works Inc. raised its stake in shares of Akero Therapeutics by 27.8% during the third quarter. Rheos Capital Works Inc. now owns 276,000 shares of the company’s stock valued at $7,918,000 after acquiring an additional 60,000 shares in the last quarter. Eastern Bank bought a new stake in shares of Akero Therapeutics during the third quarter valued at approximately $100,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $71,000 after acquiring an additional 446 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on AKRO. Canaccord Genuity Group increased their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $63.00 in a report on Thursday, January 30th. Morgan Stanley increased their price target on shares of Akero Therapeutics from $46.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. UBS Group increased their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Citigroup increased their price target on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics presently has an average rating of “Buy” and a consensus price target of $75.86.

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.