Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Akero Therapeutics Inc shares valued at $121,913 were sold by Young Jonathan on Apr 01 ’24. At $24.38 per share, Young Jonathan sold 5,000 shares. The insider’s holdings dropped to 263,306 shares worth approximately $5.77 million following the completion of this transaction.
Also, Cheng Andrew sold 1,969 shares, netting a total of over 55,782 in proceeds. Following the sale of shares at $28.33 each, the insider now holds 589,447 shares.
Before that, White William Richard had sold 724 shares from its account. In a trade valued at $20,511, the Chief Financial Officer traded Akero Therapeutics Inc shares for $28.33 each. Upon closing the transaction, the insider’s holdings decreased to 724 shares, worth approximately $1.09 million.
As published in their initiating research note from Cantor Fitzgerald on September 19, 2023, Akero Therapeutics Inc [AKRO] has been an Overweight and the price target has been revised to $69. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in late August. As of January 27, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for AKRO. Earlier on September 14, 2022, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for AKRO stock which previously was a “an In-line”.
Analyzing AKRO Stock Performance
During the last five days, there has been a drop of approximately -5.52%. Over the course of the year, Akero Therapeutics Inc shares have dropped approximately -6.21%. Shares of the company reached a 52-week high of $37.00 on 03/04/24 and a 52-week low of $15.32 on 02/06/24. A 50-day SMA is recorded $24.44, while a 200-day SMA reached $30.27. Nevertheless, trading volume fell to 0.82 million shares from 0.35 million shares the previous day.
Support And Resistance Levels for Akero Therapeutics Inc (AKRO)
According to the 24-hour chart, there is a support level at 21.33, which, if violated, would cause prices to drop to 20.77. In the upper region, resistance lies at 23.01. The next price resistance is at 24.13. RSI (Relative Strength Index) is 35.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.00, which suggests the price will decrease in the coming days. Percent R is at 99.56%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Akero Therapeutics Inc subject to short interest?
Stocks of Akero Therapeutics Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.58 million shares to 9.47 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.89 million shares. A jump of 6.12% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.3.
