Akero Therapeutics (NASDAQ:AKRO) Insider Sells $576,000.00 in Stock

Key Points

• Timothy Rolph, an insider at Akero Therapeutics, sold 12,500 shares for approximately $576,000, reducing his stake by 6.98% to own 166,571 shares valued at about $7.68 million.
• Akero Therapeutics' stock saw a significant increase of 16.3%, reaching $54.08 on recent trading, which is up from a one-year low of $21.34.
• The company reported a quarterly loss of ($0.86) EPS, beating analyst expectations, and is projected to have an average target price of $75.63 from various analysts.

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) insider Timothy Rolph sold 12,500 shares of the firm's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the sale, the insider owned 166,571 shares of the company's stock, valued at $7,675,591.68. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Timothy Rolph also recently made the following trade(s):

• On Thursday, September 11th, Timothy Rolph sold 553 shares of Akero Therapeutics stock. The shares were sold at an average price of $43.02, for a total transaction of $23,790.06.
• On Monday, September 8th, Timothy Rolph sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $44.17, for a total transaction of $552,125.00.
• On Tuesday, August 5th, Timothy Rolph sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $49.30, for a total transaction of $616,250.00.

Akero Therapeutics Trading Up 16.3%

AKRO traded up $7.59 on Thursday, reaching $54.08. 37,392,916 shares of the company traded hands, compared to its average volume of 1,540,156. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The firm has a fifty day simple moving average of $46.93 and a two-hundred day simple moving average of $46.66. The company has a market cap of $4.33 billion, a P/E ratio of -27.04 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.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the prior year, the business posted ($0.81) EPS. As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Institutional Investors Weigh In On Akero Therapeutics

Large investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new position in Akero Therapeutics during the 2nd quarter worth approximately $3,925,000. Hudson Bay Capital Management LP lifted its stake in Akero Therapeutics by 28.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 386,523 shares of the company's stock valued at $20,625,000 after acquiring an additional 84,573 shares during the period. Headlands Technologies LLC lifted its stake in Akero Therapeutics by 6,783.5% during the 2nd quarter. Headlands Technologies LLC now owns 8,329 shares of the company's stock valued at $444,000 after acquiring an additional 8,208 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Akero Therapeutics by 54.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,242 shares of the company's stock valued at $334,000 after acquiring an additional 2,192 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Akero Therapeutics by 1,018.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,369 shares of the company's stock valued at $980,000 after acquiring an additional 16,727 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Akero Therapeutics in a research report on Wednesday. Wall Street Zen raised shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Canaccord Genuity Group reissued a "hold" rating and set a $54.00 target price (down previously from $73.00) on shares of Akero Therapeutics in a research report on Thursday. HC Wainwright initiated coverage on shares of Akero Therapeutics in a research report on Thursday, September 4th. They set a "buy" rating and a $72.00 target price on the stock. Finally, TD Cowen initiated coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $75.63.

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.

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