Jonathan Young, the Chief Operating Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), has recently sold shares of the company's common stock, generating over $18,000 in the process. The transaction took place on March 13, 2024, with the shares sold at a price of $28.33 each.
According to the latest filings, Young sold a total of 651 shares of Akero Therapeutics. This sale was part of an automated process to cover tax withholding obligations related to the vesting of restricted stock units. Akero Therapeutics has a "sell-to-cover" policy in place to handle tax withholdings for their employees, which means that these sales were not made at the discretion of Young.
Following the transaction, Young still holds a significant number of shares directly, with 268,306 shares remaining in his possession. In addition to his direct holdings, there are also 60,000 shares held in irrevocable trusts for the benefit of Young's children. These shares are managed by Young's spouse, who acts as the trustee of the trusts. It should be noted that Young disclaims beneficial ownership of these securities, and this report is not an admission of beneficial ownership for any legal purpose.
Investors often keep a close eye on insider transactions as they may provide insights into the company's performance and insiders' perspectives on the stock's value. The details of such transactions are publicly disclosed to ensure transparency and maintain investor confidence in the market.
InvestingPro Insights
Akero Therapeutics, Inc. (NASDAQ:AKRO) has been under scrutiny following insider transactions, and real-time metrics from InvestingPro provide further context to the company's financial health. The market cap of Akero Therapeutics stands at approximately $1.9 billion, reflecting the company's valuation in the market. Despite a challenging period, with the stock experiencing a significant drop of 12.22% over the last week, it has shown resilience with a strong return of 27.84% over the last month.
The financials of Akero Therapeutics also reveal a negative P/E ratio of -9.36, which has adjusted to -12.51 over the last twelve months as of Q4 2023. This indicates that the company has not been profitable during this period. Additionally, the company's operating income has been reported as -172.87 million USD, underscoring the financial challenges it faces.
InvestingPro Tips suggest that while Akero Therapeutics holds more cash than debt on its balance sheet, which is a positive sign of financial stability, analysts have revised their earnings downwards for the upcoming period. Moreover, the company is not expected to pay a dividend to shareholders, which could influence investment decisions for those seeking income from their investments.
For investors looking for more comprehensive analysis and additional insights, there are 13 more InvestingPro Tips available for Akero Therapeutics at https://www.investing.com/pro/AKRO. To access these insights and enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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