RTW Investments, LP and Roderick Wong, M.D. report that they now beneficially own 0.0% of Akero Therapeutics, Inc. common stock as of December 31, 2025. The filing shows 0 shares with sole or shared voting or dispositive power for each reporting person.
The firms state that any securities referenced were acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of Akero Therapeutics. This amendment confirms they now own 5 percent or less of the company’s common stock.
Positive
None.
Negative
None.
Insights
RTW and Roderick Wong disclose their Akero stake has fallen to 0.0%.
The disclosure shows RTW Investments and Roderick Wong now report no beneficial ownership of Akero Therapeutics common stock, with 0 shares listed for voting and dispositive power and a 0.0% ownership percentage for each reporting person.
This confirms that a previously disclosable position under Section 13 is no longer at or above the 5 percent threshold. They also certify the position was held in the ordinary course of business and not to influence control, which frames the stake as a financial investment rather than a strategic control position.
Future ownership updates, if any, would appear in subsequent beneficial ownership reports once thresholds are met again under applicable rules.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Akero Therapeutics, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
00973Y108
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
00973Y108
1
Names of Reporting Persons
RTW Investments, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP No.
00973Y108
1
Names of Reporting Persons
Roderick Wong
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Akero Therapeutics, Inc.
(b)
Address of issuer's principal executive offices:
601 GATEWAY BOULEVARD, SUITE 350, SOUTH SAN FRANCISCO, CA, 94080.
Item 2.
(a)
Name of person filing:
(i) RTW Investments, LP ("RTW Investments"), a Delaware limited partnership and the investment adviser to certain funds (the "RTW Funds"), with respect to shares of Common Stock, par value $0.0001 per share (the "Shares") of Akero Therapeutics, Inc. (the "Company") directly held by the RTW Funds; and
(ii) Roderick Wong, M.D. ("Dr. Wong"), the Managing Partner and Chief Investment Officer of RTW Investments, with respect to the Shares directly held by the RTW Funds.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, as amended, the beneficial owner of the Shares reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 40 10th Avenue, Floor 7, New York, New York 10014.
(c)
Citizenship:
RTW Investments is a Delaware limited partnership. Dr. Wong is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
00973Y108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Rows 5 - 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(b)
Percent of class:
RTW Investments: 0.0%
Dr. Wong: 0.0%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
RTW Investments: 0
Dr. Wong: 0
(ii) Shared power to vote or to direct the vote:
RTW Investments: 0 Shares
Dr. Wong: 0 Shares
(iii) Sole power to dispose or to direct the disposition of:
RTW Investments: 0
Dr. Wong: 0
(iv) Shared power to dispose or to direct the disposition of:
RTW Investments: 0 Shares
Dr. Wong: 0 Shares
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2. The RTW Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
RTW Investments, LP
Signature:
/s/ Roderick Wong, M.D.
Name/Title:
Roderick Wong, M.D., Managing Partner
Date:
02/17/2026
Roderick Wong
Signature:
s/ Roderick Wong, M.D.
Name/Title:
Roderick Wong, M.D.
Date:
02/17/2026
Exhibit Information
Exhibit 99.1 Joint Filing Agreement (incorporated by reference to Exhibit 99.1 to the Reporting Persons' Schedule 13G filed with the SEC on February 14, 2024).
What does the amended Schedule 13G/A disclose about RTW’s ownership in Akero Therapeutics (AKRO)?
The filing states RTW Investments and Roderick Wong now beneficially own 0.0% of Akero Therapeutics common stock. Both report 0 shares with sole or shared voting or dispositive power, confirming their ownership has fallen below the 5 percent reporting threshold.
Who are the reporting persons in this Akero Therapeutics (AKRO) Schedule 13G/A amendment?
The reporting persons are RTW Investments, LP, a Delaware investment adviser to certain funds, and Roderick Wong, M.D., its Managing Partner and Chief Investment Officer. Together they previously reported on Akero shares held by RTW-managed funds and now report 0.0% beneficial ownership.
What percentage of Akero Therapeutics (AKRO) common stock do RTW Investments and Roderick Wong report owning?
They each report beneficial ownership of 0.0% of Akero Therapeutics common stock. The cover pages show 0.00 shares for sole and shared voting and dispositive power and an aggregate amount beneficially owned of 0.00 shares for each reporting person.
How do RTW Investments and Roderick Wong describe the purpose of holding Akero Therapeutics (AKRO) securities?
They certify the securities were acquired and are held in the ordinary course of business. They also state they were not acquired and are not held for the purpose of changing or influencing control of Akero Therapeutics, nor in connection with any control-related transaction.
What is the event date for the ownership information reported for Akero Therapeutics (AKRO)?
The ownership information is reported as of December 31, 2025. On that date, RTW Investments and Roderick Wong disclose 0.0% beneficial ownership of Akero Therapeutics common stock, reflecting that their stake is now 5 percent or less of the class.
Where are RTW Investments and Akero Therapeutics (AKRO) based according to the filing?
RTW Investments’ business address is 40 10th Avenue, Floor 7, New York, New York 10014. Akero Therapeutics’ principal executive offices are at 601 Gateway Boulevard, Suite 350, South San Francisco, California 94080, as disclosed in the filing.
