Akero Therapeutic (AKRO) into weakness on 6/26 with 1000 January $55 calls bought $6.10 to $6.90 and follows recent opening sales of 9800 August $50 puts while 1500 long August $45 calls also in open interest from a 4/6 trade. AKRO on weakness held right at lower value support and just above its rising 200-MA while the close took place just above a key volume node and the 21-week EMA. Akero’s treatment for fatty liver disease has a best-in-class profile that reduces both liver fat and fibrosis while also positively impacting cardiovascular morbidities such as triglycerides, lipids and weight. NASH is a complex, multi-faceted metabolic disease, and a patient suffering from NASH usually has several co-morbidities, such as obesity, type-2 diabetes, increased triglycerides, increased LDL cholesterol, and low HDL cholesterol. Akero’s NASH candidate, efruxifermin (EFX), has shown strong results. As many as 20 million people in the U.S. have NASH and some have estimated that the entire market represents a $20B opportunity. Fibrosis is a key endpoint in NASH studies, where EFX has demonstrated a robust placebo adjusted benefit of 20%-21%. Looking ahead, week-36 results from the Ph2b SYMMETRY study of EFX in advanced cirrhotic patients (F4) remain on track for 4Q23. Additionally, initial Ph2 data from Cohort D evaluating EFX in combination with GLP-1 receptor agonists in patients with pre-cirrhotic NASH (F1-F3) and Type 2 Diabetes remain on track for 2Q23. AKRO has a market cap of $2.6B and trades 7.5X Cash with short interest up 30% Q/Q to 13% of the float. The Street is mostly positive with $55-$65 targets.