Bullish indicating open at $55-$60, IPO prices at $37
Rolph Timothy, the Chief Scientific Officer of Akero Therapeutics Inc . (NASDAQ:AKRO), recently executed a notable share sale, as per the latest SEC filing. The timing is particularly interesting as InvestingPro data shows the stock trading near its 52-week high of $58.40, with an impressive 207% return over the past year. On February 5, Timothy sold a total of 18,750 shares of the company’s common stock, resulting in a transaction valued at approximately $1.06 million. The shares were sold at prices ranging from $56.325 to $56.924. These transactions were conducted under a pre-established Rule 10b5-1 trading plan.
In addition to the sales, Timothy also exercised stock options to acquire 18,750 shares at a price of $21.1 per share. Following these transactions, Timothy now holds 170,237 shares of Akero Therapeutics directly.
These moves are part of routine financial activities by company executives and are often planned in advance. Investors typically monitor such transactions for insights into the executive’s confidence in the company’s future performance. According to InvestingPro analysis, while the stock shows strong momentum, technical indicators suggest it may be in overbought territory. InvestingPro subscribers have access to 13 additional key insights about AKRO’s valuation and performance metrics.
In other recent news, Akero Therapeutics has been the focus of numerous analyst upgrades following promising trial results for its NASH treatment. Jefferies analyst Michael Yee raised the price target for Akero Therapeutics to $75, citing the company’s potential to capture a significant opportunity in the NASH market. Canaccord Genuity also adjusted its outlook on Akero Therapeutics, raising the price target to $73 following the release of positive 96-week SYMMETRY data in F4 MASH.
Similarly, Citi analysts boosted their price target on Akero Therapeutics to $80, reinforcing the potential of efruxifermin (EFX), Akero’s leading therapeutic candidate, as a foundational treatment for cirrhotic MASH patients. H.C. Wainwright increased its price target for Akero Therapeutics to $72, reflecting the potential market value of EFX for patients with MASH and F2/F3 fibrosis.
Lastly, Morgan Stanley (NYSE:MS) exhibited confidence in Akero Therapeutics by significantly raising the company’s price target to $96, following impressive outcomes from the SYMMETRY study. These recent developments underline the growing confidence in Akero Therapeutics’ prospects, particularly in light of the recent study results.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.