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

Akero Therapeutics logo with Medical background

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics 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 sale, the chief executive officer owned 520,757 shares in the company, valued at $26,641,928.12. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • 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.
  • 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 shares were sold at an average price of $41.48, for a total transaction of $1,244,400.00.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO traded up $1.16 on Monday, reaching $52.73. 922,903 shares of the company's stock were exchanged, compared to its average volume of 1,054,407. The business's 50-day moving average is $49.74 and its two-hundred day moving average is $43.88. The company has a quick ratio of 16.80, a current ratio of 16.80 and a debt-to-equity ratio of 0.03. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of -27.04 and a beta of -0.15.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $1.91. As a group, equities research analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors have recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. bought a new position in Akero Therapeutics during the 1st quarter worth $32,000. GF Fund Management CO. LTD. acquired a new position in shares of Akero Therapeutics during the fourth quarter valued at $41,000. Sterling Capital Management LLC boosted its holdings in shares of Akero Therapeutics by 764.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after acquiring an additional 1,582 shares during the period. PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 390 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Akero Therapeutics in the 4th quarter worth about $83,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AKRO shares. Citigroup cut their target price 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. Bank of America upped their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $82.50.

Read Our Latest Report on AKRO

Akero Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Akero Therapeutics (NASDAQ:AKRO)

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