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

Akero Therapeutics, Inc. (NASDAQ:AKRO) CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $53.98, for a total transaction of $1,619,400.00. Following the sale, the chief executive officer owned 526,114 shares of the company’s stock, valued at $28,399,633.72. This trade represents a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, September 11th, Andrew Cheng sold 1,796 shares of Akero Therapeutics stock. The stock was sold at an average price of $43.02, for a total transaction of $77,263.92.
• On Wednesday, September 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $43.25, for a total transaction of $1,297,500.00.
• On Monday, August 11th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $48.59, for a total transaction of $1,457,700.00.

Akero Therapeutics Price Performance

AKRO opened at $53.60 on Thursday. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -26.80 and a beta of -0.29. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $47.35 and a 200-day moving average price of $47.00. Akero Therapeutics, Inc. has a twelve month low of $21.34 and a twelve month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same quarter in the previous year, the company posted ($0.81) earnings per share. Equities analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analyst Ratings Changes

AKRO has been the subject of a number of analyst reports. Cowen initiated coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a “buy” rating for the company. HC Wainwright restated a “neutral” rating and issued a $54.00 price objective (down from $72.00) on shares of Akero Therapeutics in a research report on Friday, October 10th. Wall Street Zen lowered shares of Akero Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. TD Cowen lowered shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Lifesci Capital lowered shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.38.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AKRO. FNY Investment Advisers LLC purchased a new position in shares of Akero Therapeutics in the second quarter worth $28,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Akero Therapeutics in the first quarter worth $32,000. CWM LLC increased its stake in shares of Akero Therapeutics by 261.2% in the third quarter. CWM LLC now owns 809 shares of the company’s stock worth $38,000 after buying an additional 585 shares during the period. PNC Financial Services Group Inc. increased its position in Akero Therapeutics by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock valued at $67,000 after purchasing an additional 390 shares during the period. Finally, TD Waterhouse Canada Inc. purchased a new position in Akero Therapeutics during the 2nd quarter valued at $71,000.

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.