Akero Therapeutics COO Sells Stock Worth Over $100,000 by Investing.com

Jonathan Young, the Chief Operating Officer of Akero Therapeutics, Inc. (NASDAQ:), recently sold 5,000 shares of the company’s common stock. The sale, conducted on May 1, 2024, totaled over $100,749, with shares selling at a weighted average price of $20.1499 each. The trades were executed in multiple parts, with prices ranging from $19,715 to $20.58.

This sale was conducted under a pre-established 10b5-1 trading plan, which allows company insiders to establish a predetermined schedule for buying and selling securities. Such plans are designed to prevent allegations of insider trading and to ensure compliance with SEC regulations.

Following the sale, Young still directly owns a significant number of shares. The reporting documents also revealed indirect ownership through irrevocable trusts for the benefit of Young’s children, with his wife acting as trustee. Although Young disclaims beneficial ownership of these securities, the trusts each own 20,000 shares.

Investors often keep an eye on insider transactions because they can provide insight into the executive’s perspective on the company’s current valuation and future prospects. However, it is important to note that such transactions do not always reflect the operating performance or long-term potential of the company and may be influenced by an executive’s personal financial planning.

For those interested in the detailed shareholding structure of Akero Therapeutics or the details of these transactions, Young has committed to providing, upon request, full information on the number of shares sold at each individual price within the stated ranges.

InvestingPro Insights

While Akero Therapeutics, Inc. (NASDAQ:AKRO) navigates the financial landscape, InvestingPro’s current numbers provide a detailed look at the company’s market position. Akero Therapeutics has a market capitalization of approximately $1.36 billion, which reflects the company’s market valuation. Despite a challenging period, with a negative price-to-earnings ratio of -6.82 and an adjusted price-to-earnings ratio for the trailing twelve months from Q4 2023 of -8.98, investors are keeping a close eye on the outlook. the company’s performance and the potential for a turnaround.

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One of the notable InvestingPro tips for Akero Therapeutics is that the company has more cash than debt on its balance sheet, which can be a positive sign of financial stability. Furthermore, the company’s liquid assets exceed its short-term liabilities, indicating a comfortable liquidity position. However, it’s worth noting that analysts have downgraded their earnings for the period ahead, and the consensus indicates that Akero Therapeutics is not expected to be profitable this year.

Investors who follow insider transactions, such as the recent sale by COO Jonathan Young, may also be interested in the company’s stock price movements. Over the past six months, Akero Therapeutics has experienced a large price increase of 35.19%, despite a total price return of -15.59% since the most recent data. These moves can sometimes provide insight into market sentiment and the stock’s potential trajectory.

For those looking to delve deeper into Akero Therapeutics’ financials and future prospects, InvestingPro offers additional expert analysis and tips. There are currently 9 more InvestingPro Tips available for AKRO, which you can find at https://www.investing.com/pro/AKRO. Use the coupon code to improve your investment strategy with these insights PRONEWS24 to get an extra 10% discount on an annual or biennial Pro and Pro+ subscription.

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