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Yale Catriona, the Chief Development Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), a biotechnology company with a market capitalization of $3.96 billion, recently executed a series of stock transactions involving the company’s common stock, as reported in an SEC Form 4 filing.
On February 18, Catriona sold a total of 10,000 shares of Akero Therapeutics’ common stock. The sales occurred at prices ranging from $49.79 to $50.634 per share, amounting to a total transaction value of approximately $498,659. The shares were sold in multiple transactions, with a weighted-average price calculated for the sales. The stock has shown remarkable strength, delivering a 110% return over the past year. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with analyst price targets ranging from $60 to $109.
In addition to the sales, Catriona also exercised stock options to acquire 10,000 shares at a price of $21.1 per share. Following these transactions, Catriona holds 95,648 shares of Akero Therapeutics’ common stock.
These transactions were conducted under a Rule 10b5-1 trading plan, which Catriona adopted on May 24, 2024. Such plans allow company insiders to set up a predetermined schedule for buying or selling stock to avoid potential conflicts of interest.
In other recent news, Akero Therapeutics has seen a flurry of activity from analysts following the release of promising trial data. Morgan Stanley (NYSE:MS) significantly raised its price target for the company to $96, highlighting the impressive outcomes from the SYMMETRY study and increasing the probability of success for Akero’s treatment for F4 NASH patients. Jefferies also raised its price target to $75, maintaining a Buy rating, citing the company’s potential in the NASH market with strong Phase IIB trial results. Similarly, Canaccord Genuity increased its price target to $73, expressing optimism about the trial results of Akero’s leading candidate, efruxifermin (EFX).
Citi analysts boosted their price target to $80, noting the significant milestone achieved in fibrosis improvement for cirrhotic MASH patients. H.C. Wainwright adjusted its price target to $72, reflecting the potential market value of Akero’s treatment candidate EFX for MASH and F2/F3 fibrosis. The firm’s analysis projects global peak revenues of $4.5 billion by 2037 for EFX. These recent developments underscore the positive outlook from multiple analysts, with maintained Buy ratings and increased price targets reflecting confidence in Akero Therapeutics’ future performance.
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