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 company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.77, for a total transaction of $1,253,100.00. Following the sale, the chief executive officer now directly owns 656,062 shares in the company, valued at $27,403,709.74. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, February 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $52.73, for a total value of $1,581,900.00.
• On Monday, January 27th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $54.90, for a total value of $1,647,000.00.

Akero Therapeutics Trading Up 4.6 %

NASDAQ:AKRO opened at $45.85 on Thursday. 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, Inc. has a 1-year low of $17.86 and a 1-year high of $58.40. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -12.23 and a beta of -0.19. The business’s 50-day moving average price is $41.45 and its two-hundred day moving average price is $33.59.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). On average, equities analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors have recently modified their holdings of AKRO. GF Fund Management CO. LTD. bought a new stake in Akero Therapeutics in the 4th quarter valued at $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Akero Therapeutics by 18.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,451 shares of the company’s stock valued at $1,988,000 after acquiring an additional 11,035 shares in the last quarter. Woodline Partners LP lifted its stake in Akero Therapeutics by 29.9% in the 4th quarter. Woodline Partners LP now owns 379,967 shares of the company’s stock valued at $10,571,000 after acquiring an additional 87,499 shares in the last quarter. Two Sigma Advisers LP boosted its position in Akero Therapeutics by 195.7% during the 4th quarter. Two Sigma Advisers LP now owns 41,100 shares of the company’s stock worth $1,143,000 after acquiring an additional 27,200 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Akero Therapeutics by 43.3% during the 4th quarter. Two Sigma Investments LP now owns 127,320 shares of the company’s stock worth $3,542,000 after acquiring an additional 38,500 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AKRO. HC Wainwright raised their target price on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. 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. Canaccord Genuity Group increased their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. UBS Group boosted their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $76.29.

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.