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Andrew Cheng, the President and CEO of Akero Therapeutics, Inc. (NASDAQ:AKRO), has recently disposed of shares worth approximately $1.65 million. According to a Form 4 filing with the Securities and Exchange Commission, Cheng sold a total of 30,000 shares of common stock on January 27, 2025. The shares were sold at prices ranging from $54.56 to $56.89 per share. The timing is notable as InvestingPro data shows the stock has surged over 106% in the past week, with analysts setting price targets between $35 and $96.
Following these transactions, Cheng’s direct ownership of Akero Therapeutics’ common stock stands at 716,062 shares. The sales were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on August 16, 2024, allowing insiders to set up a predetermined schedule for selling company shares. The company maintains strong liquidity with a current ratio of 17.25, and according to InvestingPro, holds more cash than debt on its balance sheet.
Akero Therapeutics, based in South San Francisco, California, focuses on developing innovative therapies for serious metabolic diseases. The recent sale by Cheng is part of routine financial planning and diversification of personal assets. With a market capitalization of $3.79 billion and a beta of -0.2, the stock typically moves counter to market trends, offering potential diversification benefits.
In other recent news, Akero Therapeutics has been the subject of several analyst upgrades and target price revisions, following promising results from its SYMMETRY study. Jefferies analyst Michael Yee raised the price target for Akero Therapeutics to $75, citing the company’s potential in the NASH market. Canaccord Genuity followed suit, increasing its price target to $73, while Citi analysts boosted their target to $80. H.C. Wainwright and Morgan Stanley (NYSE:MS) also raised their targets to $72 and $96 respectively.
These adjustments came after the release of positive data for efruxifermin (EFX), Akero’s leading therapeutic candidate, in patients with compensated cirrhosis. The SYMMETRY study’s findings provide a strong indication of EFX’s potential efficacy in treating metabolic disorders.
These recent developments have sparked a positive outlook for Akero Therapeutics. The company also reported preliminary topline results from its Phase 2b SYMMETRY study, which showed a statistically significant reversal in fibrosis for patients treated with EFX. As the company continues its research and development efforts, investors will undoubtedly keep a close eye on its progress.
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