Akero Therapeutics, Inc. (NASDAQ:AKRO) Insider Sells $1,376,000.00 in Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) insider Timothy Rolph sold 25,000 shares of Akero Therapeutics stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $55.04, for a total value of $1,376,000.00. Following the completion of the transaction, the insider now directly owns 169,721 shares in the company, valued at approximately $9,341,443.84. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 5th, Timothy Rolph sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $53.49, for a total value of $668,625.00.
• On Tuesday, May 6th, Timothy Rolph sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $43.43, for a total transaction of $542,875.00.
• On Thursday, April 24th, Timothy Rolph sold 6,250 shares of Akero Therapeutics stock. The shares were sold at an average price of $41.03, for a total transaction of $256,437.50.
• On Monday, April 7th, Timothy Rolph sold 6,250 shares of Akero Therapeutics stock. The shares were sold at an average price of $35.88, for a total value of $224,250.00.

Akero Therapeutics Stock Down 2.9%

Shares of NASDAQ AKRO traded down $1.56 on Wednesday, reaching $52.96. 1,921,522 shares of the company's stock traded hands, compared to its average volume of 999,075. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The business's 50 day simple moving average is $42.85 and its two-hundred day simple moving average is $39.89. Akero Therapeutics, Inc. has a 12 month low of $21.02 and a 12 month high of $58.40. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -14.12 and a beta of -0.16.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 fiscal year.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Tema Etfs LLC purchased a new stake in Akero Therapeutics in the fourth quarter worth about $894,000. Cubist Systematic Strategies LLC bought a new position in shares of Akero Therapeutics during the 4th quarter valued at approximately $840,000. RTW Investments LP grew its stake in shares of Akero Therapeutics by 15.9% during the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after acquiring an additional 940,388 shares during the period. Ameriprise Financial Inc. purchased a new stake in Akero Therapeutics in the 4th quarter worth approximately $422,000. Finally, abrdn plc raised its stake in Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock worth $7,505,000 after acquiring an additional 146,424 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. 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 report on Monday, March 3rd. Citigroup dropped their price target on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, 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. Eight 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 price target 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.