Visionary Wealth Advisors acquired a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,154 shares of the biotechnology company’s stock, valued at approximately $747,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Timothy G. Youngquist 2020 Irrevocable Trust increased its holdings in Viking Therapeutics by 141.6% in the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company’s stock worth $10,605,000 after acquiring an additional 159,349 shares in the last quarter. Cornerstone Capital Inc. purchased a new position in Viking Therapeutics during the second quarter valued at approximately $3,334,000. Dimensional Fund Advisors LP boosted its position in shares of Viking Therapeutics by 18.0% in the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock worth $17,653,000 after purchasing an additional 82,941 shares during the period. Channel Wealth LLC bought a new position in shares of Viking Therapeutics in the fourth quarter worth approximately $2,655,000. Finally, Granahan Investment Management LLC increased its stake in shares of Viking Therapeutics by 41.0% in the first quarter. Granahan Investment Management LLC now owns 332,192 shares of the biotechnology company’s stock worth $10,810,000 after purchasing an additional 96,606 shares in the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.
Viking Therapeutics Stock Performance
NASDAQ VKTX opened at $33.23 on Tuesday. The company has a market capitalization of $3.88 billion, a P/E ratio of -7.13 and a beta of 0.69. Viking Therapeutics, Inc. has a one year low of $22.96 and a one year high of $43.15. The stock has a 50 day moving average price of $35.36 and a 200-day moving average price of $33.18.
Analyst Ratings Changes
Several analysts have recently commented on VKTX shares. Canaccord Genuity Group raised their price objective on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Cantor Fitzgerald cut their price target on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a report on Thursday, April 30th. Lake Street Capital began coverage on Viking Therapeutics in a research report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, Truist Financial started coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Viking Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $96.62.
Get Our Latest Research Report on VKTX
Insiders Place Their Bets
In other news, CFO Greg Zante sold 21,217 shares of Viking Therapeutics stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $710,132.99. Following the completion of the transaction, the chief financial officer owned 212,204 shares in the company, valued at approximately $7,102,467.88. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of Viking Therapeutics stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the completion of the transaction, the chief executive officer owned 2,572,441 shares of the company’s stock, valued at approximately $85,713,734.12. This trade represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 187,951 shares of company stock valued at $6,268,442 over the last ninety days. 5.30% of the stock is owned by insiders.
About Viking Therapeutics
Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.
The company’s lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.
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