Akero Therapeutics CDO Sells Over $230,000 worth of Shares Via Investing.com

In a recent move at Akero Therapeutics, Inc. (NASDAQ: ), Chief Development Officer Yale Catriona sold a total of 8,393 shares of the company’s common stock, raising more than $230,000. This sale took place in three separate transactions on September 16, 17 and 18.

The shares were sold at weighted average prices that ranged from $27.515 to $27.56, with the trades being conducted according to a pre-established 10b5-1 trading plan. This plan allows company insiders to set a predetermined schedule for buying and selling shares at a time when they do not have material non-public information, thereby helping to avoid any allegations of insider trading.

On September 16, Catriona sold 2485 shares at an average price of $27.515. The following day, another 2,037 shares were sold at an average price of $27,548. The final sale on September 18 comprised 3,871 shares at an average price of $27.56. The total value of shares sold on these three dates amounted to approximately $231,174.

In addition to the sales, Catriona also acquired shares by exercising stock options on the same dates. On September 16, 2,485 shares were purchased at $0.615 per share, followed by 2,037 shares on September 17 and 3,871 shares on September 18, all at the same price. Total expense for these option exercises was $5,161.

The transactions were disclosed to the US Securities and Exchange Commission in a Form 4, which provides transparency into the trading activities of a company’s officers and directors and can provide investors with insights into management’s perspective on the company’s prospects.

Akero Therapeutics continues to focus on its mission in the pharmaceuticals sector, with these transactions being part of the regular financial activities of its executives.

In other recent news, Akero Therapeutics made significant progress in its Phase 3 trial for a treatment targeting MASH patients with compensated cirrhosis. The study, called SYNCHRONY Outcomes, evaluates the efficacy of efruxifermin (EFX) in patients with stage 4 (F4) fibrosis. This development follows the announcement that the first patient has been dosed in the study.

The SYNCHRONY Outcomes study plans to enroll approximately 1,150 F4 MASH patients, with the primary objective of evaluating fibrosis regression without MASH worsening after a 96-week treatment period. Key secondary endpoints, such as improvements in glycemic control and lipid levels, will also be monitored.

HC Wainwright maintained a Buy rating and a $50.00 stock price target on Akero, reflecting a positive outlook on the company’s therapeutic developments. Investors are eagerly awaiting the release of Week 96 data from the ongoing Phase 2b SYMMETRY trial, expected in the first quarter of 2025, which will provide insight into the long-term effects of EFX in F4 MASH patients.

InvestingPro Insights

Following the recent transactions of the development director of Akero Therapeutics, Inc. (NASDAQ:AKRO), investors may be keen to understand the company’s financial health and market performance. Akero Therapeutics, with a market cap of $1.87 billion, is going through a challenging phase as suggested by its negative P/E ratio of -7.99, which indicates that the market currently has a pessimistic view on the potential his winnings.

A noteworthy InvestingPro tip is that Akero has more cash than debt on its balance sheet, which can be a sign of financial stability and gives the company a cushion to fund operations and strategic initiatives. However, analysts do not anticipate the company to be profitable this year, which is in line with negative earnings per share (EPS) of -$3.4 for the trailing twelve months through Q2 2024.

Despite this, Akero shares have shown strong returns over the past three months, with a total price return of 21.66%, outperforming many of its peers. This could signal investor confidence in its future prospects or a reaction to recent developments within the company. However, potential investors should be aware that share prices often move in the opposite direction of the market, which could involve higher volatility and risks.

For those looking for a more in-depth analysis, InvestingPro offers additional information, including 9 more InvestingPro tips, which can be found at https://www.investing.com/pro/AKRO. These tips provide a comprehensive look at the company’s financial situation, market performance and expert analyst opinions, which can be invaluable for making informed investment decisions.

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