Yale Catriona, Chief Development Officer at Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold 2,810 shares of the company's common stock. The shares were sold at a weighted-average price of $30.79, generating a total of $86,519. Following this transaction, Catriona holds 71,348 shares directly. The transaction occurs as Akero, currently valued at $2 billion, trades near $29 per share, showing a strong 43% gain over the past year. According to InvestingPro data, analysts maintain a bullish stance with price targets ranging from $35 to $65.
The sale was part of a "sell-to-cover" policy adopted by Akero Therapeutics to address tax withholding obligations related to the vesting of restricted stock units. These transactions were automatic and not at Catriona's discretion. The company maintains a strong financial position with a current ratio of 17.25 and minimal debt-to-equity of 0.05. Want deeper insights? InvestingPro offers 8 additional key tips about Akero's financial health and market position.
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 among participants. The company is currently collaborating with trial investigators, the U.S. Food and Drug Administration, and other regulatory authorities to swiftly resolve the issue. On the other hand, Akero Therapeutics has been making significant strides with its treatment for metabolic dysfunction-associated steatohepatitis (MASH). The company recently reported positive outcomes from its Phase 2b HARMONY study, evaluating the efficacy of efruxifermin (EFX). Furthermore, Akero has initiated its Phase 3 SYNCHRONY program, aiming to confirm EFX's favorable benefit-risk profile.
In addition, Akero has all three Phase 3 trials of EFX underway, with the first patient already dosed in the SYNCHRONY Outcomes trial. This trial focuses on MASH patients with compensated cirrhosis and plans to enroll approximately 1,150 patients. Citi and H.C. Wainwright both maintain a Buy rating for Akero, highlighting the potential of EFX to be a leading therapy for MASH. These developments underline the ongoing efforts by both Keros Therapeutics and Akero Therapeutics to advance their respective clinical trials and bring effective treatments to patients.
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