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

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total value of $78,001.44. Following the sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through 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 value 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 Stock Performance

NASDAQ AKRO opened at $44.15 on Monday. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $42.10 and its two-hundred day moving average is $33.89. Akero Therapeutics, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -11.77 and a beta of -0.19.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AKRO shares. Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Citigroup upped their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. UBS Group upped their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. HC Wainwright upped their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Canaccord Genuity Group upped their price objective on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Akero Therapeutics presently has an average rating of “Buy” and a consensus target price of $76.29.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $211,000. Simplify Asset Management Inc. grew its holdings in shares of Akero Therapeutics by 15.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock worth $8,141,000 after acquiring an additional 38,279 shares during the period. LMR Partners LLP grew its holdings in shares of Akero Therapeutics by 17.0% in the 3rd quarter. LMR Partners LLP now owns 20,597 shares of the company’s stock worth $591,000 after acquiring an additional 2,997 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $491,000. Finally, Algert Global LLC grew its holdings in shares of Akero Therapeutics by 8.3% in the 3rd quarter. Algert Global LLC now owns 68,052 shares of the company’s stock worth $1,952,000 after acquiring an additional 5,191 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.