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Patrick Lamy, Senior Vice President of Commercial Strategy at Akero Therapeutics Inc . (NASDAQ:AKRO), executed a series of transactions involving the company’s common stock, as detailed in a recent SEC filing. On January 27, Lamy sold 5,000 shares at an average price of $57.03, totaling $285,150. This sale was part of a previously established Rule 10b5-1 trading plan. The transaction comes as the $3.8 billion biotech company’s stock shows significant momentum, with a 106% return over the past week. According to InvestingPro analysis, the stock’s RSI indicates overbought conditions, suggesting potential price consolidation ahead.
In addition to the sale, Lamy acquired 4,000 shares through the exercise of stock options at a price of $19.87 per share. Following these transactions, Lamy’s direct ownership amounts to 33,492 shares.
The filing also noted a prior acquisition of 234 shares on December 31, 2024, under the company’s 2019 Employee Stock Purchase Plan, with shares purchased at 85% of the closing price on July 1, 2024.
In other recent news, Akero Therapeutics has been the subject of several analyst upgrades following promising results from its Phase 2b SYMMETRY study. Jefferies analyst Michael Yee increased the price target for Akero Therapeutics to $75, citing promising Phase IIB trial results for Akero’s treatment for NASH, particularly in patients with F4 cirrhosis. Canaccord Genuity also raised its price target to $73 following the release of positive 96-week SYMMETRY data.
Citi analysts boosted their price target on Akero Therapeutics to $80, based on the potential of Akero’s leading therapeutic candidate, efruxifermin (EFX), in treating metabolic disorders. H.C. Wainwright increased its price target for Akero to $72, reflecting the potential market value of Akero’s treatment candidate, EFX, for patients with MASH and F2/F3 fibrosis.
Finally, Morgan Stanley (NYSE:MS) significantly raised the company’s price target to $96, following impressive outcomes from the SYMMETRY study. These developments highlight the recent positive outlook for Akero Therapeutics by various analyst firms.
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