Insider Selling: Akero Therapeutics (NASDAQ:AKRO) Insider Sells 12,500 Shares of Stock

Key Points

• Timothy Rolph, an insider at Akero Therapeutics, sold 12,500 shares of the company's stock on September 8th for a total of $552,125, decreasing his holding by 6.96% to 167,124 shares.
• Akero Therapeutics' stock experienced a 3.1% decline, trading at $43.25 on the day of reporting, with significant trading volume of approximately 1.25 million shares.
• Multiple analysts have set new price targets for Akero Therapeutics, with Bank of America raising its target to $64.00 and TD Cowen initiating coverage with a target of $76.00, reflecting a generally optimistic outlook.

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) insider Timothy Rolph sold 12,500 shares of Akero Therapeutics stock in a transaction on Monday, September 8th. The stock was sold at an average price of $44.17, for a total transaction of $552,125.00. Following the completion of the transaction, the insider owned 167,124 shares in the company, valued at approximately $7,381,867.08. The trade was a 6.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, August 5th, Timothy Rolph sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $49.30, for a total value of $616,250.00.
• On Monday, July 7th, Timothy Rolph sold 12,500 shares of Akero Therapeutics stock. The stock was sold at an average price of $51.09, for a total transaction of $638,625.00.
• On Wednesday, June 18th, Timothy Rolph sold 1,129 shares of Akero Therapeutics stock. The shares were sold at an average price of $54.84, for a total transaction of $61,914.36.

Akero Therapeutics Stock Down 3.1%

AKRO traded down $1.37 during trading on Wednesday, hitting $43.25. 1,249,063 shares of the stock traded hands, compared to its average volume of 869,809. The firm has a 50-day moving average of $49.30 and a 200 day moving average of $46.61. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the previous year, the business earned ($0.81) EPS. Research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on AKRO. Bank of America raised their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. TD Cowen initiated coverage on Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating and a $76.00 target price on the stock. Wall Street Zen upgraded Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. HC Wainwright began coverage on Akero Therapeutics in a research note on Thursday, September 4th. They issued a "buy" rating and a $72.00 price target on the stock. Finally, Cowen initiated coverage on Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating for the company. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $81.14.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors have recently modified their holdings of the stock. RTW Investments LP raised its position in shares of Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after purchasing an additional 940,388 shares during the last quarter. General Atlantic L.P. raised its holdings in Akero Therapeutics by 9.6% in the second quarter. General Atlantic L.P. now owns 5,733,989 shares of the company's stock worth $305,966,000 after buying an additional 500,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Akero Therapeutics by 11.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,817,091 shares of the company's stock worth $194,997,000 after buying an additional 495,119 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Akero Therapeutics by 14.2% during the first quarter. Vanguard Group Inc. now owns 4,230,644 shares of the company's stock valued at $171,256,000 after buying an additional 526,233 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Akero Therapeutics by 10.1% during the second quarter. State Street Corp now owns 2,745,564 shares of the company's stock valued at $146,503,000 after buying an additional 250,821 shares during the last quarter.

Akero Therapeutics Company Profile

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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