Jonathan Young, the Chief Operating Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Young sold a total of 50,716 shares of common stock on November 1, 2024. The shares were sold at prices ranging from $31.254 to $32.937 per share, resulting in a total transaction value of approximately $1.6 million.
In addition to these sales, Young also exercised stock options to acquire 40,716 shares at a price of $21.09 per share, amounting to a total value of $858,700. Following these transactions, Young holds 216,286 shares directly, with additional shares held indirectly through irrevocable trusts for his children. These transactions were conducted under a Rule 10b5-1 trading plan established in June 2024.
In other recent news, Akero Therapeutics has made significant strides in its Phase 3 trial for a treatment aimed at MASH patients with compensated cirrhosis. H.C. Wainwright maintained a Buy rating on the company, reflecting its progress. The trial, named SYNCHRONY Outcomes, is evaluating the efficacy of efruxifermin (EFX) in patients with fibrosis stage 4 (F4). Notably, the first patient has been dosed in the study.
The SYNCHRONY Outcomes trial is a randomized, placebo-controlled study that plans to enroll approximately 1,150 F4 MASH patients. The trial's primary endpoint is to assess fibrosis regression without worsening of MASH after a 96-week treatment period. Beyond this phase, the trial will continue to monitor patients to evaluate primary outcomes related to mortality and liver-related clinical events.
This recent development marks a significant step for Akero as it now has all three Phase 3 trials of EFX underway. Investors are eagerly anticipating 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, a crucial near-term milestone for Akero and its EFX treatment.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on Akero Therapeutics' financial position and market performance, providing context to Jonathan Young's recent stock transactions. The company's market capitalization stands at $2.23 billion, reflecting significant investor interest despite its current unprofitability.
Akero's stock has shown remarkable strength, with a 119.82% price total return over the past year and a 63.02% return over the last six months. This impressive performance aligns with an InvestingPro Tip indicating that Akero has delivered a "high return over the last year." The stock's current price is 86.62% of its 52-week high, suggesting continued investor optimism.
However, it's important to note that Akero is not yet profitable, with a negative P/E ratio of -10.73 for the last twelve months as of Q2 2024. This aligns with another InvestingPro Tip stating that "analysts do not anticipate the company will be profitable this year." Despite this, Akero maintains a strong balance sheet, with more cash than debt and liquid assets exceeding short-term obligations.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Akero Therapeutics, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.