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

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) CEO Andrew Cheng sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $51.16, for a total value of $1,534,800.00. Following the completion of the transaction, the chief executive officer owned 520,757 shares of the company's stock, valued at approximately $26,641,928.12. This represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, June 18th, Andrew Cheng sold 6,620 shares of Akero Therapeutics stock. The shares were sold at an average price of $54.84, for a total value of $363,040.80.
• On Tuesday, June 10th, Andrew Cheng sold 37,837 shares of Akero Therapeutics stock. The shares were sold at an average price of $54.05, for a total transaction of $2,045,089.85.
• On Monday, May 12th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $41.48, for a total value of $1,244,400.00.

Akero Therapeutics Price Performance

AKRO stock traded down $0.43 on Friday, hitting $51.57. 618,863 shares of the company's stock traded hands, compared to its average volume of 1,053,837. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. The stock has a fifty day moving average of $49.45 and a 200-day moving average of $43.34. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -26.45 and a beta of -0.15. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of ($1.01) by $1.91. On average, analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Analysts Set New Price Targets

AKRO has been the topic of several research reports. Bank of America increased their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Citigroup cut their price objective on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $82.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AKRO. Northwest & Ethical Investments L.P. bought a new position in shares of Akero Therapeutics during the 1st quarter valued at $32,000. GF Fund Management CO. LTD. acquired a new position in shares of Akero Therapeutics during the fourth quarter worth approximately $41,000. Sterling Capital Management LLC grew its position in Akero Therapeutics by 764.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after purchasing an additional 1,582 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after buying an additional 390 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Akero Therapeutics during the 4th quarter worth approximately $83,000.

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.

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