Jonathan Young Sells 12,500 Shares of Akero Therapeutics (NASDAQ:AKRO) Stock

Key Points

• COO Jonathan Young sold 12,500 shares of Akero Therapeutics at an average price of $47.76, totaling approximately $597,000, reducing his ownership by 5.97%.
• Akero's stock is currently down 0.7% to $46.10, with a market capitalization of $3.69 billion and a price-to-earnings ratio of -23.05.
• Analysts have set a consensus target price of $81.14 for Akero Therapeutics, with most rating it a "Moderate Buy".

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) COO Jonathan Young sold 12,500 shares of Akero Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $47.76, for a total transaction of $597,000.00. Following the sale, the chief operating officer owned 196,898 shares of the company's stock, valued at approximately $9,403,848.48. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jonathan Young also recently made the following trade(s):

• On Thursday, September 11th, Jonathan Young sold 586 shares of Akero Therapeutics stock. The shares were sold at an average price of $43.02, for a total transaction of $25,209.72.
• On Tuesday, September 2nd, Jonathan Young sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $46.08, for a total transaction of $576,000.00.
• On Tuesday, August 12th, Jonathan Young sold 12,500 shares of Akero Therapeutics stock. The shares were sold at an average price of $47.79, for a total transaction of $597,375.00.

Akero Therapeutics Stock Down 0.7%

Shares of NASDAQ AKRO traded down $0.31 during midday trading on Friday, hitting $46.10. The company's stock had a trading volume of 644,680 shares, compared to its average volume of 1,357,930. The business's fifty day simple moving average is $47.14 and its two-hundred day simple moving average is $46.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. Akero Therapeutics, Inc. has a 1 year low of $21.34 and a 1 year high of $58.40. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -23.05 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) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same quarter in the previous year, the business posted ($0.81) earnings per share. On average, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AKRO shares. TD Cowen started coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Akero Therapeutics in a research note on Saturday, September 27th. Cowen started coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating for the company. HC Wainwright started coverage on shares of Akero Therapeutics in a research note on Thursday, September 4th. They issued a "buy" rating and a $72.00 price target for the company. Finally, Wall Street Zen downgraded shares of Akero Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.14.

Hedge Funds Weigh In On Akero Therapeutics

A number of institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC acquired a new position in shares of Akero Therapeutics in the 2nd quarter valued at $3,925,000. Hudson Bay Capital Management LP increased its stake in Akero Therapeutics by 28.0% in the 2nd quarter. Hudson Bay Capital Management LP now owns 386,523 shares of the company's stock valued at $20,625,000 after buying an additional 84,573 shares during the period. Headlands Technologies LLC increased its stake in Akero Therapeutics by 6,783.5% in the 2nd quarter. Headlands Technologies LLC now owns 8,329 shares of the company's stock valued at $444,000 after buying an additional 8,208 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Akero Therapeutics by 54.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,242 shares of the company's stock valued at $334,000 after buying an additional 2,192 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Akero Therapeutics by 1,018.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,369 shares of the company's stock valued at $980,000 after buying an additional 16,727 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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