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

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 30,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 686,062 shares of the company’s stock, valued at $36,176,049.26. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00.
• 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.

Akero Therapeutics Trading Down 1.0 %

Shares of Akero Therapeutics stock opened at $49.44 on Thursday. The company has a 50-day moving average of $33.81 and a two-hundred day moving average of $30.39. Akero Therapeutics, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40. 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 stock has a market cap of $3.45 billion, a PE ratio of -13.18 and a beta of -0.11.

Institutional Investors Weigh In On Akero Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. boosted its position 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 in the last quarter. Eastern Bank acquired a new position in shares of Akero Therapeutics during the 3rd quarter worth $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Akero Therapeutics in the 3rd quarter worth about $205,000. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics in the 3rd quarter valued at about $211,000. Finally, AlphaQuest LLC increased its holdings in Akero Therapeutics by 32,588.0% during the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock valued at $227,000 after acquiring an additional 8,147 shares in the last quarter.

Analyst Upgrades and Downgrades

AKRO has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. UBS Group raised their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup raised their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, HC Wainwright boosted their target price on Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus 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.