Insider Selling: Akero Therapeutics, Inc. (NASDAQ:AKRO) COO Sells 10,000 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $53.81, for a total value of $538,100.00. Following the completion of the transaction, the chief operating officer now owns 251,147 shares in the company, valued at approximately $13,514,220.07. This represents a 3.83 % decrease in their position. The transaction 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, January 2nd, Jonathan Young sold 10,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $28.03, for a total transaction of $280,300.00.
• On Tuesday, December 10th, Jonathan Young sold 2,503 shares of Akero Therapeutics stock. The shares were sold at an average price of $30.79, for a total transaction of $77,067.37.
• On Monday, December 2nd, Jonathan Young sold 10,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $32.13, for a total transaction of $321,300.00.

Akero Therapeutics Stock Down 4.5 %

Shares of NASDAQ AKRO opened at $54.95 on Friday. 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 company has a market capitalization of $3.84 billion, a P/E ratio of -14.65 and a beta of -0.11. The company’s 50 day moving average price is $32.14 and its 200-day moving average price is $29.68. Akero Therapeutics, Inc. has a 52-week low of $16.25 and a 52-week high of $58.40.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AKRO. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Akero Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after purchasing an additional 446 shares during the period. Eastern Bank acquired a new position in Akero Therapeutics during the 3rd quarter worth approximately $100,000. Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics in the third quarter worth approximately $205,000. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics in the third quarter valued at approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Akero Therapeutics during the third quarter valued at approximately $265,000.

Analysts Set New Price Targets

AKRO has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Akero Therapeutics from $46.00 to $96.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Canaccord Genuity Group upped their target price on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Citigroup lifted their price target on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. HC Wainwright upped their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics currently has an average rating of “Buy” and an average price target of $75.86.

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.