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In a recent SEC filing, Rolph Timothy, Chief Scientific Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), disclosed the sale of company shares valued at approximately $1.74 million. The transactions, which took place on January 27, involved the sale of 31,250 shares at prices ranging from $54.76 to $56.97 per share. The sale comes amid a remarkable period for AKRO, with the stock showing a 141% return over the past year and currently trading near its 52-week high of $58.40. According to InvestingPro analysis, the stock appears overvalued at current levels, with technical indicators suggesting overbought conditions.
Additionally, Timothy acquired shares through stock options, purchasing a total of 31,250 shares at prices between $19.87 and $21.1 per share. Following these transactions, Timothy holds 170,237 shares of Akero Therapeutics, reflecting his continued investment in the company. The transactions were conducted under a pre-established Rule 10b5-1 trading plan. The company maintains a strong financial health profile with an "InvestingPro Financial Health Score" of GOOD, supported by a healthy current ratio of 17.25. InvestingPro subscribers have access to 12 additional key insights about AKRO’s financial health and market position.
In other recent news, Akero Therapeutics has been the subject of several analyst upgrades following positive results from its Phase IIB SYMMETRY study. Jefferies raised Akero’s price target to $75, citing promising trial results for the company’s treatment for NASH, particularly in patients with F4 cirrhosis. Similarly, Canaccord Genuity adjusted its outlook on Akero Therapeutics, raising its price target to $73, based on the positive 96-week SYMMETRY data. Citi analysts also boosted their price target on Akero Therapeutics shares to $80, while H.C. Wainwright increased its price target for Akero to $72.
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. The study’s robust results have provided a stronger foundation for the anticipated success of the company’s treatment for NASH patients. These recent developments highlight Akero Therapeutics’ ongoing efforts to advance treatments in their respective fields, with a focus on nonalcoholic steatohepatitis (NASH).
The SYMMETRY study’s findings are significant for Akero Therapeutics as they provide a strong indication of EFX’s potential efficacy in treating metabolic disorders. Akero Therapeutics also reported preliminary topline results from its Phase 2b SYMMETRY study, which showed a statistically significant reversal in fibrosis for patients treated with EFX. These results underline the company’s commitment to advancing treatments for serious metabolic diseases.
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