Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Sells $2,003,384.67 in Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 63,539 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $31.53, for a total value of $2,003,384.67. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,088,798.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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 value 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 Price Performance

NASDAQ:AKRO traded up $0.41 during trading hours on Friday, hitting $31.23. The company’s stock had a trading volume of 484,151 shares, compared to its average volume of 892,003. The stock has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $24.24. The company 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 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 twelve month low of $11.25 and a twelve month high of $37.00.

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

Hedge Funds Weigh In On Akero Therapeutics

Several large investors have recently bought and sold shares of AKRO. Wellington Management Group LLP raised its position in Akero Therapeutics by 247.7% in the fourth quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock valued at $67,294,000 after purchasing an additional 2,053,028 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of 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 acquiring an additional 1,815,569 shares during the last quarter. Redmile Group LLC raised its position in shares of 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 acquiring an additional 749,226 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Akero Therapeutics by 19.0% during the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock worth $92,702,000 after acquiring an additional 584,875 shares during the last quarter. Finally, Long Focus Capital Management LLC raised its position in shares of Akero Therapeutics by 119.0% during the second quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock worth $16,882,000 after acquiring an additional 391,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AKRO. Cantor Fitzgerald reissued an “overweight” rating on shares of Akero Therapeutics in a report on Thursday, June 20th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average 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.