[SCHEDULE 13G] Akero Therapeutics, Inc. SEC Filing

Rhea-AI Filing Summary

Deep Track entities and individual David Kroin reported ownership of 4,400,000 shares of Akero Therapeutics common stock, representing 5.50% of the outstanding shares based on 79,988,975 shares outstanding as of July 31, 2025. The filing is a joint Schedule 13G dated October 7, 2025, showing shared voting and dispositive power over the 4,400,000 shares and no sole voting or dispositive power. The reporting parties are Deep Track Capital, LP (Delaware), Deep Track Biotechnology Master Fund, Ltd. (Cayman Islands) and David Kroin (U.S.).

The statement certifies the position was not acquired to change or influence control of the issuer and includes a joint filing agreement assigning responsibility for future amendments. The ownership percentage and shared control are material to investors because the stake exceeds the 5% reporting threshold and is publicly disclosed under SEC rules.

Positive

• Ownership disclosed at 4,400,000 shares, providing transparency to the market
• Position exceeds 5% reporting threshold and is properly reported on Schedule 13G
• Joint filing agreement clarifies responsibility for future amendments

Negative

• Concentrated position of 5.50% could influence trading liquidity or perception of control
• Shared voting/dispositive power only leaves uncertain who will act on votes if conflicts arise

Insights

Investment Strategist

Stake disclosure shows a meaningful passive position above the 5% threshold.

The combined 4,400,000-share position equals 5.50% of outstanding stock (using 79,988,975 shares outstanding). That level requires public disclosure and may affect supply/demand dynamics around the stock as other market participants note a sizable holder.

Dependencies include whether the position is increased, decreased, or converted to an active strategy; the filing states it was not acquired to influence control. Monitor future Schedule 13D/13G amendments and trading around upcoming corporate events within the next months.

Regulatory/Compliance Analyst

Form and language are consistent with a passive joint filing under Rule 13d-1.

The form is filed as a Schedule 13G with certifications that the shares are not held to influence control and includes a joint filing statement under Rule 13d-1(k). Signatures by the same individual for all reporting persons are provided and the exhibit cites the issuer's 10-Q for the outstanding share count.

Key compliance points to watch: timely amendments if holdings change and whether any future event prompts conversion to a Schedule 13D. Filing completeness depends on future updates tied to material position changes within the SEC timelines.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Akero Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

00973Y108

(CUSIP Number)

09/30/2025

(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

Deep Track Capital, 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 4,400,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,400,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,400,000.00

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)

5.50 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 00973Y108

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,400,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,400,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,400,000.00

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)

5.50 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 00973Y108

1

Names of Reporting Persons

David Kroin

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 4,400,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,400,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,400,000.00

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)

5.50 %

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) Deep Track Capital, LP (ii) Deep Track Biotechnology Master Fund, Ltd. (iii) David Kroin
(b)	Address or principal business office or, if none, residence: (i) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (ii) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Delaware (ii) Cayman Islands (iii) 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: 4,400,000
(b)	Percent of class: 5.50%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,400,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4,400,000
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
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 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.

Deep Track Capital, LP

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	10/07/2025

Deep Track Biotechnology Master Fund, Ltd.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Director
Date:	10/07/2025

David Kroin

Signature:	/s/ David Kroin
Name/Title:	David Kroin
Date:	10/07/2025

Exhibit Information

Item 4: Information with respect to the Reporting Persons' ownership of the Common Stock as of October 7, 2025, is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is calculated using 79,988,975 Common Stock outstanding as of July 31, 2025, according to the issuer's 10-Q filed with the SEC on August 8, 2025. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: October 7, 2025 Deep Track Capital, LP By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser Deep Track Biotechnology Master Fund, Ltd. By: /s/ David Kroin David Kroin, Director David Kroin By: /s/ David Kroin David Kroin

FAQ

What stake in Akero Therapeutics (AKRO) did Deep Track report?

Deep Track entities and David Kroin reported beneficial ownership of 4,400,000 shares, representing 5.50% of common stock.

When was the Schedule 13G for AKRO filed and signed?

The joint Schedule 13G is dated and signed on October 7, 2025.

How was the percent ownership calculated in the filing?

The filing uses 79,988,975 shares outstanding from the issuer's 10-Q as of July 31, 2025 to calculate 5.50%.

Does the filing indicate an intent to influence control of AKRO?

No. The certification states the securities were not acquired to change or influence control of the issuer.

Who signed the Schedule 13G on behalf of the reporting parties?

All signatures are by David Kroin in his capacities for Deep Track Capital, Deep Track Biotechnology Master Fund, Ltd., and personally.