Akero Therapeutics Executive Sells Over $150K in Company Stock

In a recent development at Akero Therapeutics, Inc., Chief Development Officer Yale Catriona sold shares exceeding $150,000. This transaction, dated September 20, 2024, involved the sale of 5,500 shares at an average price of $27.652 per share, totaling approximately $152,086. The sale was executed under a prearranged 10b5-1 trading plan.

Catriona’s shares were sold through multiple transactions, with prices varying from $27.50 to $27.87. The weighted average price reflects this range. Detailed breakdowns of the shares sold at each price point can be made available upon request to the issuer, any security holder, or through the Securities and Exchange Commission.

On the same day, Catriona also acquired 5,500 shares of Akero Therapeutics common stock at a price of $0.615 per share, totaling $3,382.50. This acquisition was similarly executed under the terms of the 10b5-1 trading plan.

Following these transactions, Catriona holds a total of 75,294 shares of common stock and 27,959 shares in exercisable options. The options are vested and currently exercisable, with a notable expiration date of October 17, 2028.

For investors keeping a close eye on executive transactions at Akero Therapeutics, the full details can be found in the company’s latest Form 4 filing. Such disclosures can provide valuable insights into executive sentiment and financial activities within the company.

In other recent news, Akero Therapeutics is making significant progress in its Phase 3 trial aimed at treating MASH patients with compensated cirrhosis. This trial, named SYNCHRONY Outcomes, evaluates the efficacy of efruxifermin (EFX) in patients with fibrosis stage 4 (F4). The initiation of SYNCHRONY marks a crucial development for Akero, as all three Phase 3 trials of EFX are currently in progress.

H.C. Wainwright has retained a Buy rating on Akero, indicating a positive outlook for the company’s therapeutic advancements. The trial aims to enroll around 1,150 F4 MASH patients who will receive weekly injections of either 50 mg EFX or a placebo. The primary goal during the first cohort of the trial is to assess fibrosis regression without the worsening of MASH over a treatment period of 96 weeks.

Investors are particularly anxious for the Week 96 data release from the ongoing Phase 2b SYMMETRY study, expected in the first quarter of 2025. This data is anticipated to shed light on the long-term effects of EFX on F4 MASH patients and is seen as a critical upcoming milestone for Akero and its EFX treatment. Recent developments in Akero’s operations highlight the company’s ongoing advancements.

Akero Therapeutics has recently witnessed notable insider trading activity, which may imply differing views on the company’s financial health and future prospects. To understand these transactions better, it is essential to look at the company’s financial indicators and analyst forecasts.

Current data shows that Akero Therapeutics has a market capitalization of approximately $1.95 billion. However, the company’s P/E ratio is at -8.29, indicating expectations for negative earnings. The adjusted P/E ratio for the past twelve months as of Q2 2024 stands at -9.5. Additionally, the company has experienced an 86.07% decline in EBITDA growth and a Return on Assets of -26.71%, suggesting challenging operational performance.

Despite these obstacles, Akero has shown a strong return over the last quarter, with a total price return of 22.28%. This performance might reflect investor optimism or responses to specific company developments not fully captured by traditional financial metrics. Moreover, insights indicate that Akero holds more cash than debt, and its liquid assets surpass short-term obligations, suggesting some level of financial stability.

On the analyst front, three analysts have upwardly revised their earnings projections for the upcoming period, potentially indicating positive changes not yet reflected in the market. However, it is important to note that the company is not expected to turn a profit this year and has not done so in the past twelve months. Additionally, Akero Therapeutics does not offer dividends, which could be a consideration for income-focused investors.

For those interested in a deeper analysis of Akero Therapeutics’ performance and outlook, further insights can be explored through comprehensive financial platforms. These resources provide clarity on the company’s position and strategic direction, especially in light of recent insider trading activities.