Insider Selling: Akero Therapeutics, Inc. (NASDAQ:AKRO) CFO Sells 2,804 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) CFO William Richard White sold 2,804 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $53.99, for a total value of $151,387.96. Following the completion of the transaction, the chief financial officer now directly owns 59,155 shares in the company, valued at $3,193,778.45. This trade represents a 4.53% 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 hyperlink.

Akero Therapeutics Stock Up 3.8%

NASDAQ:AKRO traded up $2.06 during mid-day trading on Friday, reaching $55.62. The stock had a trading volume of 2,224,332 shares, compared to its average volume of 1,009,425. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -14.83 and a beta of -0.16. Akero Therapeutics, Inc. has a 1-year low of $21.02 and a 1-year high of $58.40. The stock's 50 day simple moving average is $43.96 and its two-hundred day simple moving average is $40.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of ($1.01) by $1.91. Equities analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Hedge Funds Weigh In On Akero Therapeutics

Hedge funds have recently bought and sold shares of the company. Northwest & Ethical Investments L.P. acquired a new position in Akero Therapeutics in the first quarter worth about $32,000. GF Fund Management CO. LTD. acquired a new position in Akero Therapeutics in the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. boosted its stake in Akero Therapeutics by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after acquiring an additional 390 shares during the period. Sterling Capital Management LLC boosted its stake in Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after acquiring an additional 1,582 shares during the period. Finally, Amalgamated Bank boosted its stake in Akero Therapeutics by 19.0% in the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after acquiring an additional 410 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on AKRO shares. Citigroup cut their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. HC Wainwright raised their target price on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Bank of America raised their target price on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average 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.