Akero Therapeutics (NASDAQ:AKRO) Stock Price Down 4.1% on Insider Selling

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price traded down 4.1% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $29.36 and last traded at $29.36. 20,603 shares were traded during mid-day trading, a decline of 98% from the average session volume of 839,450 shares. The stock had previously closed at $30.61.

Specifically, insider Catriona Yale sold 9,074 shares of Akero Therapeutics stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $29.11, for a total transaction of $264,144.14. Following the completion of the transaction, the insider now directly owns 95,648 shares of the company’s stock, valued at $2,784,313.28. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Patrick Lamy sold 1,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $29.13, for a total transaction of $29,130.00. Following the transaction, the vice president now owns 34,258 shares of the company’s stock, valued at $997,935.54. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Andrew Cheng sold 7,855 shares of Akero Therapeutics stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $241,855.45. Following the completion of the transaction, the chief executive officer now owns 597,562 shares of the company’s stock, valued at $18,398,933.98. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of research firms have commented on AKRO. Citigroup initiated coverage on Akero Therapeutics in a report on Monday, November 18th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.83.

Akero Therapeutics Stock Performance

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 company has a market cap of $1.98 billion, a PE ratio of -7.57 and a beta of -0.23. The business’s 50 day moving average is $30.90 and its two-hundred day moving average is $27.37.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Hedge Funds Weigh In On Akero Therapeutics

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in Akero Therapeutics by 191.2% during the second quarter. SG Americas Securities LLC now owns 14,517 shares of the company’s stock valued at $341,000 after acquiring an additional 9,532 shares during the last quarter. Bank of New York Mellon Corp raised its position in Akero Therapeutics by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock worth $5,894,000 after purchasing an additional 61,988 shares during the period. Rhumbline Advisers boosted its position in shares of Akero Therapeutics by 30.3% during the second quarter. Rhumbline Advisers now owns 107,338 shares of the company’s stock valued at $2,518,000 after buying an additional 24,940 shares during the period. TD Asset Management Inc grew its stake in shares of Akero Therapeutics by 23.7% during the second quarter. TD Asset Management Inc now owns 154,592 shares of the company’s stock valued at $3,627,000 after buying an additional 29,600 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Akero Therapeutics by 22,021.1% in the second quarter. Quest Partners LLC now owns 12,609 shares of the company’s stock worth $296,000 after buying an additional 12,552 shares during the period.

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.