William Richard White, the Chief Financial Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold shares of the company's common stock, according to a recent SEC filing. On December 10, White sold a total of 2,817 shares for approximately $86,735. The shares were sold at a weighted-average price of $30.79, with transactions occurring at prices ranging from $30.79 to $30.99. The transaction occurred near the upper range of the stock's 52-week trading range of $15.32 to $37.00, with InvestingPro analysis suggesting the stock is currently undervalued.
The transaction was part of a "sell-to-cover" policy adopted by Akero Therapeutics to satisfy tax withholding obligations related to the vesting of restricted stock units. This automatic sale was not at White's discretion. Following the transaction, White retains ownership of 38,335 shares in the company. The $2 billion market cap company maintains strong financial health, with a current ratio of 17.25 and more cash than debt on its balance sheet. InvestingPro subscribers can access 8 additional key financial tips and comprehensive analysis of AKRO's financial health metrics.
In other recent news, Keros Therapeutics has voluntarily paused dosing in certain arms of its Phase 2 TROPOS Trial after a safety review identified unexpected cases of pericardial effusion. Dosing at the 1.5 mg/kg level is continuing, and the company plans to present topline data from all treatment arms of the trial in the second quarter of 2025. Meanwhile, Akero Therapeutics has been making significant strides in the treatment of metabolic dysfunction-associated steatohepatitis (MASH). Citi has initiated coverage on Akero with a positive outlook, based on the potential of efruxifermin to be a leading therapy for MASH. This follows Akero's announcement of positive clinical outcomes from its Phase 2b HARMONY study, which showed over 40% of participants exhibited regression of liver fibrosis after 96 weeks of efruxifermin treatment. The company is now progressing with its Phase 3 SYNCHRONY program, which aims to confirm efruxifermin's favorable benefit-risk profile for MASH treatment. In line with these developments, H.C. Wainwright has maintained a Buy rating for Akero, as the company has all three Phase 3 trials of efruxifermin underway.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.