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Andrew Cheng, the President and CEO of Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold 30,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted-average price of approximately $35.23, resulting in a total transaction value of $1,056,780. The transaction comes as the stock shows strong momentum, with a 63.3% return over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels.
The sale was conducted under a Rule 10b5-1 trading plan, which Cheng had adopted on August 16, 2024. Following this transaction, Cheng retains ownership of 624,324 shares in the company. The shares were sold in multiple transactions, with prices ranging from $35.00 to $35.56. Analyst targets for the stock range from $60 to $109, reflecting strong institutional confidence in the company’s prospects.
Akero Therapeutics, based in South San Francisco, California, focuses on developing treatments for serious metabolic diseases. The company maintains a strong financial position with a current ratio of 19.38, indicating robust liquidity. Get deeper insights into AKRO’s financial health and more exclusive analysis with InvestingPro.
In other recent news, Akero Therapeutics has seen a series of analyst upgrades following promising trial results. Citi analysts raised their price target for Akero Therapeutics to $80, highlighting the strong 96-week SYMMETRY data for efruxifermin (EFX) in patients with compensated cirrhosis caused by metabolic-associated steatohepatitis (MASH F4C). This data marked a significant milestone, showing statistically significant fibrosis improvement in a challenging patient demographic. H.C. Wainwright also adjusted their price target to $75, reflecting the potential market value of Akero’s EFX treatment for patients with non-alcoholic steatohepatitis (NASH) and F2/F3 fibrosis. Jefferies followed suit, increasing their target to $75, citing the strong Phase IIB trial results and the potential for Akero to capture a substantial share of the NASH market. Canaccord Genuity raised its target to $73, expressing optimism about the trial results of EFX and its potential efficacy in treating metabolic disorders. These developments suggest heightened strategic interest in Akero Therapeutics, with the firm’s EFX treatment being seen as a potential breakthrough for a patient population lacking treatment options.
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