Intel stock spikes after report of possible US government stake
Yale Catriona, Chief Development Officer at Akero Therapeutics, Inc. (NASDAQ:AKRO), recently executed a series of stock transactions, according to a recent filing with the Securities and Exchange Commission. On October 30 and November 1, Catriona sold a total of 20,000 shares of Akero Therapeutics' common stock, realizing approximately $651,960. The shares were sold at weighted-average prices ranging from $32.526 to $32.619 per share.
These transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling company stock in accordance with insider trading laws. Following these sales, Catriona holds 74,158 shares of Akero Therapeutics, reflecting her ongoing stake in the company.
In other recent news, Akero Therapeutics continues to make strides in its Phase 3 trial, SYNCHRONY Outcomes, aimed at treating MASH patients with compensated cirrhosis. The trial, which is evaluating the efficacy of efruxifermin (EFX) in patients with fibrosis stage 4 (F4), was affirmed with a Buy rating by H.C. Wainwright. The firm also maintained a $50.00 stock price target for Akero.
The SYNCHRONY Outcomes trial is a significant step for Akero, as it now has all three Phase 3 trials of EFX underway. The study is not only assessing fibrosis regression without worsening of MASH after a 96-week treatment period but also tracking key secondary endpoints such as improvements in glycemic control and lipid levels.
Investors are keenly awaiting the Week 96 data release from the ongoing Phase 2b SYMMETRY study, expected in the first quarter of 2025. This data will provide insights into the long-term effects of EFX on F4 MASH patients, marking a crucial near-term milestone for Akero and its EFX treatment. These are the recent developments in the company's endeavors.
InvestingPro Insights
As Yale Catriona reduces her stake in Akero Therapeutics, Inc. (NASDAQ:AKRO), investors might find additional context from recent financial data and analyst perspectives valuable. According to InvestingPro, Akero's market capitalization stands at $2.25 billion, reflecting significant investor interest in the company's potential.
Despite the recent insider sale, Akero has demonstrated impressive market performance. InvestingPro data shows a striking 142.72% price total return over the past year, with a robust 64.03% return in the last six months alone. This strong momentum is further underscored by an InvestingPro Tip noting that the stock has seen a "significant return over the last week," suggesting ongoing investor optimism.
However, it's important to note that Akero is not currently profitable, with an adjusted operating income of -$234.18 million over the last twelve months. This aligns with another InvestingPro Tip indicating that "analysts do not anticipate the company will be profitable this year." Despite this, the company's financial health appears stable, as it "holds more cash than debt on its balance sheet" and "liquid assets exceed short term obligations."
For investors seeking a deeper understanding of Akero's prospects, InvestingPro offers 12 additional tips, providing a more comprehensive analysis of the company's financial position and market outlook.
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