Patrick Lamy, Senior Vice President of Commercial Strategy at Akero Therapeutics Inc . (NASDAQ:AKRO), recently reported a stock transaction involving the sale of 1,000 shares. The shares were sold at an average price of $29.13, totaling approximately $29,130. This transaction was conducted under a pre-arranged trading plan dated March 28, 2024. According to InvestingPro data, AKRO shares have surged 38% over the past six months, with the company now commanding a market capitalization of $1.98 billion.
In addition to the sale, Lamy acquired 17,400 shares of common stock through restricted stock units (RSUs) and 52,100 stock options, both at no cost. The RSUs will vest in eight equal semi-annual installments starting December 16, 2024, while the stock options will vest monthly over four years, contingent on Lamy's continuous service with the company. Notably, analyst price targets for AKRO range from $35 to $65, reflecting potential upside from current levels, while the stock's negative beta of -0.24 suggests it often moves counter to broader market trends.
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. Despite this, dosing at the 1.5 mg/kg level continues, with the company expecting to present topline data from all treatment arms of the trial in the second quarter of 2025.
Meanwhile, Akero Therapeutics has been the subject of positive attention from Citi, which initiated coverage on the company's stock with a Buy rating. This is based on the potential of Akero's efruxifermin to become a leading therapy for metabolic dysfunction-associated steatohepatitis (MASH), especially in cases with moderate to advanced fibrosis.
Furthermore, Akero reported significant clinical outcomes from its Phase 2b HARMONY study, revealing that over 40% of participants exhibited regression of liver fibrosis after 96 weeks of efruxifermin treatment. The company also made progress with its Phase 3 SYNCHRONY Outcomes trial for MASH patients with compensated cirrhosis, leading H.C. Wainwright to maintain a Buy rating for the company.
These recent developments underline the ongoing efforts of both Keros Therapeutics and Akero Therapeutics in the field of clinical-stage biopharmaceutical research and development.
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