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SAN FRANCISCO—Graham G. Walmsley, a director at Akero Therapeutics, Inc. (NASDAQ:AKRO), recently acquired a significant amount of the company’s common stock. According to a recent SEC filing, Walmsley purchased 200,000 shares on January 30th at a price of $48 per share, totaling $9.6 million. The stock, which has surged 191% over the past year, currently trades at $54.21, already providing substantial gains on the director’s investment. InvestingPro analysis shows the company maintains a GOOD financial health score, with analysts setting price targets ranging from $60 to $109.
Post-transaction, Walmsley holds an indirect ownership of 1,000,000 shares, in addition to 2,168 shares held directly. The shares are primarily held through Logos Global Master Fund LP and Logos Opportunities Fund IV LP, where Walmsley is a managing member of the general partners.
This substantial acquisition underscores Walmsley’s confidence in Akero Therapeutics, a company focused on pharmaceutical preparations.
In other recent news, Akero Therapeutics has seen a series of promising developments. Analyst firms Jefferies, Canaccord, Citi, H.C. Wainwright, and Morgan Stanley (NYSE:MS) have all raised their price targets for the company, reflecting their confidence in Akero’s future. This follows the release of positive Phase IIB trial results for Akero’s treatment for non-alcoholic steatohepatitis (NASH), particularly in patients with F4 cirrhosis.
Jefferies analyst Michael Yee highlighted the company’s potential to capture a significant opportunity in the NASH market, given the strong data. Similarly, Canaccord Genuity expressed optimism regarding the trial results of efruxifermin (EFX), Akero’s leading therapeutic candidate, which showed significant improvement in fibrosis for patients. Citi analysts also boosted their price target, reinforcing EFX’s potential as a foundational treatment for cirrhotic MASH patients.
H.C. Wainwright increased its price target based on a risk-adjusted net present value model, reflecting the potential market value of EFX. Morgan Stanley exhibited confidence by significantly raising the company’s price target following impressive outcomes from the SYMMETRY study. The firm’s analysts adjusted their expectations, leading to an increase in the probability of success for the company’s treatment in F4 NASH patients.
These recent developments suggest a positive trajectory for Akero Therapeutics, as reflected by the raised price targets and maintained positive ratings from these analyst firms.
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