In a recent transaction on June 11, Akero Therapeutics, Inc.'s (NASDAQ:AKRO) Chief Development Officer, Yale Catriona, sold 2,825 shares of the company's common stock. The sale was conducted at a weighted-average price of $22.641 per share, totaling approximately $63,960.
According to the details provided in the SEC filing, the shares were sold in multiple transactions at prices ranging from $22.640 to $22.760. The sale was automatic and part of the company's "sell-to-cover" policy, which is used to satisfy tax withholding obligations arising from the vesting of restricted stock units. It is important to note that these transactions were not at the discretion of Catriona, as they were required to cover tax liabilities.
Following the sale, Yale Catriona still owns a substantial number of shares in Akero Therapeutics, with 74,867 shares remaining in her possession. The company, headquartered in South San Francisco, California, operates in the pharmaceutical preparations industry.
Investors and followers of Akero Therapeutics will continue to monitor insider transactions, as they provide insights into the executives' perspectives on the company's stock value and financial health.
In other recent news, Akero Therapeutics has made significant developments, including an amendment to its corporate bylaws and the election of three Class II directors. The company also approved Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2024. In addition, Akero appointed Scott Gangloff as Chief Technology Officer. Several analyst firms have maintained or initiated coverage on Akero, including Canaccord Genuity, Wolfe Research, and BofA Securities. Canaccord Genuity maintained a Buy rating on Akero's stock, citing the potential of the drug candidate, Efruxifermin, while Wolfe Research initiated coverage with an Outperform rating. BofA Securities reinstated coverage with a Neutral rating. These are among the recent developments for Akero Therapeutics.
InvestingPro Insights
In light of the recent insider transaction at Akero Therapeutics, Inc. (NASDAQ:AKRO), investors may be evaluating the company's financial metrics and market performance to better understand its current position. A snapshot of real-time data from InvestingPro reveals a mixed financial landscape for Akero Therapeutics:
- The company's market capitalization stands at approximately $1.71 billion, reflecting its size and the market's valuation of the company.
- Akero's Price to Earnings (P/E) ratio, a measure of its current share price relative to its per-share earnings, is negative at -7.65, indicating that the company is not currently profitable.
- Despite a challenging year with a Year-to-Date (YTD) total return of 5.44%, Akero has experienced a significant return over the last week, with a 15.42% price total return.
InvestingPro Tips for Akero Therapeutics suggest that the company holds more cash than debt on its balance sheet, which could provide some financial stability in uncertain times. Additionally, it's worth noting that the stock's Relative Strength Index (RSI) suggests it is in overbought territory, which could imply that a correction might be on the horizon, especially considering that the stock price often moves in the opposite direction of the market.
For investors seeking a deeper dive into Akero Therapeutics' prospects, there are additional InvestingPro Tips available. For instance, while the company's liquid assets exceed its short-term obligations, analysts do not anticipate the company will be profitable this year, and net income is expected to drop. These are crucial considerations for those looking to make informed decisions about their investments.
To access a comprehensive list of InvestingPro Tips for Akero Therapeutics and further enrich your investment strategy, visit https://www.investing.com/pro/AKRO. Remember, there are additional tips listed on InvestingPro, and you can use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, providing you with valuable insights to navigate the markets effectively.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.