Andrew Cheng Sells 30,000 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the sale, the chief executive officer now directly owns 716,062 shares of the company’s stock, valued at approximately $39,311,803.80. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction 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 Tuesday, December 10th, Andrew Cheng sold 7,855 shares of Akero Therapeutics stock. The stock was sold at an average price of $30.79, for a total transaction 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.
• On Friday, November 1st, Andrew Cheng sold 108,366 shares of Akero Therapeutics stock. The stock was sold at an average price of $31.73, for a total value of $3,438,453.18.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $55.36 on Friday. The company has a fifty day moving average price of $29.78 and a 200 day moving average price of $28.69. Akero Therapeutics, Inc. has a 1-year low of $15.32 and a 1-year high of $58.40. The firm has a market cap of $3.86 billion, a PE ratio of -14.76 and a beta of -0.19. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Research analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Institutional Trading of Akero Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $71,000 after purchasing an additional 446 shares during the last quarter. Eastern Bank acquired a new position in shares of Akero Therapeutics during the 3rd quarter worth about $100,000. Summit Financial Wealth Advisors LLC acquired a new position in shares of Akero Therapeutics during the 3rd quarter worth about $205,000. Victory Capital Management Inc. acquired a new stake in shares of Akero Therapeutics in the third quarter valued at about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Akero Therapeutics during the third quarter worth about $265,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AKRO. HC Wainwright raised their target price on Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $63.00 in a research note on Thursday. Canaccord Genuity Group upped their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup lifted their price target on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Akero Therapeutics from $46.00 to $96.00 and gave the company an “overweight” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics presently has an average rating of “Buy” and an average price target of $66.29.

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.