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

Key Points

• Andrew Cheng, CEO of Akero Therapeutics, sold 30,000 shares at an average price of $53.98, totaling approximately $1.62 million, which reduced his ownership of the company by 5.39%.
• Akero Therapeutics' stock rose 0.3%, closing at $53.81, with a market cap of $4.30 billion and analysts rating it as a "Hold" after recent downgrades.
• The company reported a quarterly loss of ($0.86) earnings per share, exceeding analysts' expectations, with a projected average loss of ($3.99) for the current year.

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) CEO Andrew Cheng sold 30,000 shares of the business's stock in a transaction on Friday, October 10th. The shares were sold at an average price of $53.98, for a total value of $1,619,400.00. Following the completion of the transaction, the chief executive officer owned 526,114 shares of the company's stock, valued at $28,399,633.72. This trade represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $43.02, for a total transaction of $77,263.92.
• On Wednesday, September 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $43.25, for a total transaction of $1,297,500.00.
• On Monday, August 11th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $48.59, for a total transaction of $1,457,700.00.

Akero Therapeutics Stock Up 0.3%

Akero Therapeutics stock traded up $0.15 during trading on Tuesday, reaching $53.81. 2,231,237 shares of the company's stock were exchanged, compared to its average volume of 3,695,355. The company's 50-day moving average is $47.33 and its two-hundred day moving average is $46.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. Akero Therapeutics, Inc. has a 52-week low of $21.34 and a 52-week high of $58.40. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -26.91 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted 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 previous year, the firm earned ($0.81) earnings per share. On average, analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research cut shares of Akero Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday. Wall Street Zen downgraded shares of Akero Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. Wolfe Research downgraded shares of Akero Therapeutics from an "outperform" rating to a "hold" rating in a research report on Friday. Jefferies Financial Group lowered shares of Akero Therapeutics from a "buy" rating to a "hold" rating and reduced their price objective for the company from $75.00 to $56.00 in a research note on Thursday, October 9th. Finally, Canaccord Genuity Group lowered shares of Akero Therapeutics from a "buy" rating to a "hold" rating and reduced their price objective for the company from $73.00 to $54.00 in a research note on Thursday, October 9th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Akero Therapeutics currently has an average rating of "Hold" and an average price target of $73.38.

Hedge Funds Weigh In On Akero Therapeutics

Several large investors have recently bought and sold shares of AKRO. PNC Financial Services Group Inc. raised its holdings in Akero Therapeutics by 17.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,952 shares of the company's stock valued at $104,000 after buying an additional 294 shares during the period. GF Fund Management CO. LTD. boosted its position in Akero Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock valued at $72,000 after purchasing an additional 321 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Akero Therapeutics by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock worth $114,000 after acquiring an additional 338 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after purchasing an additional 410 shares during the period. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Akero Therapeutics by 6.3% during the first quarter. Summit Investment Advisors Inc. now owns 7,542 shares of the company's stock worth $305,000 after purchasing an additional 450 shares during the period.

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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