Akero Therapeutics chief development officer sells $2.73 million in stock

Yale Catriona, Chief Development Officer at Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold a significant portion of company stock, according to a recent filing. On January 27, Catriona sold a total of 48,074 shares of Akero Therapeutics common stock. The shares were sold at prices ranging from $55.152 to $57.007, amounting to a total of approximately $2.73 million.

In addition to the sales, Catriona also exercised options to acquire 49,074 shares at a price of $21.1 per share, which were then converted into common stock. Following these transactions, Catriona retains direct ownership of 95,648 shares of the company. These transactions were conducted under a pre-established trading plan. According to InvestingPro analysis, the stock currently shows signs of being overbought, with analyst price targets ranging from $42 to $96. Subscribers can access 15 additional ProTips and comprehensive insider trading analysis on the platform.

In other recent news, Akero Therapeutics has been the subject of several analyst upgrades following the release of promising data from its SYMMETRY study. Jefferies raised its price target for Akero to $75, citing the company’s potential to capture a significant opportunity in the NASH market. Similarly, Canaccord Genuity adjusted its outlook on Akero, raising the price target to $73 due to the positive trial results of Akero’s leading therapeutic candidate, efruxifermin. Citi analysts also increased their price target on Akero to $80, reinforcing its potential as a foundational treatment for cirrhotic MASH patients.

H.C. Wainwright echoed this sentiment, raising its price target for Akero to $72, reflecting the market’s optimism about the company’s potential. Morgan Stanley (NYSE:MS) also exhibited confidence in Akero, raising the company’s price target to $96 while retaining its positive Overweight rating. This adjustment was prompted by impressive outcomes from the SYMMETRY study, leading to an increase in the expected success of the company’s treatment in F4 NASH patients.

These recent developments highlight the significant progress Akero Therapeutics has made in the treatment of nonalcoholic steatohepatitis (NASH). The company’s Phase IIB study results indicated a robust and statistically significant fibrosis benefit, sparking market optimism. The positive outcomes from the study have increased confidence in the potential success of the upcoming Phase III trials.

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