Jonathan Young, COO of Akero Therapeutics, Inc. (NASDAQ:), Sells $133,755 Worth of Company Stock - Insider Transactions Revealed!
Jonathan Young, the Chief Operating Officer of Akero Therapeutics, Inc. (NASDAQ:), recently made significant stock sales according to a new SEC filing. The transactions, which took place on August 1, 2024, involved a total sale of $133,755 worth of shares, with individual share prices ranging between $26.44 and $27.23.
The filing disclosed two separate sales made by Young. The first sale included 3,031 shares sold at an average price of $26.44, while the second sale consisted of 1,969 shares sold at an average price of $27.23. These were weighted-average prices, indicating multiple transactions at various prices. Specifically, the first batch of shares was sold at prices ranging from $26.19 to $26.81, and the second batch was sold at prices between $26.91 and $27.88.
Despite these sales, Young still holds a significant number of shares in the company, with 243,823 shares remaining in his possession. These transactions were executed under a Rule 10b5-1 trading plan established on December 27, 2023, to prevent accusations of insider trading.
In addition to his personal holdings, Young mentioned holdings in irrevocable trusts for his children, each holding 20,000 shares. However, he disclaimed beneficial ownership of these securities in the filing. Insider transactions like these often provide insights into the company's performance and executive confidence.
In other news, Akero Therapeutics recently made significant corporate changes, such as amendments to its bylaws and key appointments. Analyst firms have also been closely monitoring the company's potential, with some adjusting their price targets based on updated financial projections and market analysis.
In conclusion, despite the recent stock sales by Jonathan Young, Akero Therapeutics presents a mixed financial outlook. The company's market capitalization is substantial, but it has a negative P/E ratio, indicating a lack of profitability relative to its share price. However, the stock has shown resilience with positive returns over the past few months, suggesting growing investor optimism. Investors interested in Akero Therapeutics should carefully consider the company's financial health, future prospects, and analyst recommendations before making investment decisions.
