Andrew Cheng Sells 37,837 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) CEO Andrew Cheng sold 37,837 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the completion of the transaction, the chief executive officer now directly owns 556,487 shares of the company's stock, valued at approximately $30,078,122.35. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.
• On Thursday, April 10th, Andrew Cheng sold 30,000 shares of Akero Therapeutics stock. The stock was sold at an average price of $35.23, for a total value of $1,056,900.00.

Akero Therapeutics Trading Up 3.8%

AKRO stock traded up $2.06 during midday trading on Friday, reaching $55.62. 2,224,332 shares of the company traded hands, compared to its average volume of 1,009,425. Akero Therapeutics, Inc. has a 52-week low of $21.02 and a 52-week high of $58.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The business has a 50 day moving average of $43.96 and a 200-day moving average of $40.36. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -14.83 and a beta of -0.16.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.01) by $1.91. As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKRO. Northwest & Ethical Investments L.P. purchased a new stake in Akero Therapeutics during the first quarter valued at approximately $32,000. GF Fund Management CO. LTD. purchased a new stake in Akero Therapeutics during the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC raised its holdings in shares of Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after buying an additional 1,582 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Akero Therapeutics by 30.8% in 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 during the period. Finally, Quarry LP purchased a new stake in shares of Akero Therapeutics in the fourth quarter worth approximately $83,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AKRO shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Bank of America increased their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. HC Wainwright increased their price target on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Citigroup dropped their price target on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $82.50.

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.