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 Akero Therapeutics stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $43.25, for a total transaction of $1,297,500.00. Following the completion of the sale, the chief executive officer directly owned 475,698 shares of the company’s stock, valued at approximately $20,573,938.50. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 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.
• On Thursday, July 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $51.16, for a total transaction of $1,534,800.00.
• On Wednesday, June 18th, Andrew Cheng sold 6,620 shares of Akero Therapeutics stock. The stock was sold at an average price of $54.84, for a total transaction of $363,040.80.

Akero Therapeutics Trading Down 3.3%

NASDAQ:AKRO opened at $43.46 on Friday. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40. The company has a market cap of $3.48 billion, a PE ratio of -21.73 and a beta of -0.24. The company has a 50 day simple moving average of $48.82 and a two-hundred day simple moving average of $46.52.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cowen assumed coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a “buy” rating for the company. Bank of America boosted their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of Akero Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. TD Cowen assumed coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a “buy” rating and a $76.00 price objective for the company. Finally, HC Wainwright assumed coverage on shares of Akero Therapeutics in a research report on Thursday, September 4th. They set a “buy” rating and a $72.00 price objective for the company. Eight investment 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 $81.14.

Institutional Trading of Akero Therapeutics

Hedge funds have recently bought and sold shares of the stock. Tema Etfs LLC purchased a new stake in Akero Therapeutics in the 4th quarter worth $894,000. Principal Financial Group Inc. purchased a new stake in Akero Therapeutics in the 1st quarter worth $10,404,000. Cubist Systematic Strategies LLC purchased a new stake in Akero Therapeutics in the 4th quarter worth $840,000. RTW Investments LP lifted its stake in Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock worth $190,840,000 after purchasing an additional 940,388 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Akero Therapeutics in the 4th quarter worth $422,000.

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.