Kingsview Wealth Management LLC purchased a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,674 shares of the biotechnology company’s stock, valued at approximately $1,002,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of VKTX. Ballast Advisors LLC purchased a new stake in Viking Therapeutics during the 1st quarter valued at $33,000. Quattro Advisors LLC purchased a new position in shares of Viking Therapeutics in the fourth quarter valued at about $37,000. Fifth Third Bancorp increased its position in shares of Viking Therapeutics by 169.2% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 677 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Viking Therapeutics during the first quarter valued at about $50,000. Finally, Allworth Financial LP purchased a new stake in shares of Viking Therapeutics during the second quarter worth about $53,000. Institutional investors own 76.03% of the company’s stock.
Wall Street Analyst Weigh In
VKTX has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. Canaccord Genuity Group increased their price objective on Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. cut their price objective on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Truist Financial started coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price on the stock. Finally, Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.62.
Insider Buying and Selling
In other Viking Therapeutics news, COO Marianna Mancini sold 18,217 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $609,722.99. Following the sale, the chief operating officer owned 422,760 shares in the company, valued at approximately $14,149,777.20. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer directly owned 212,204 shares of the company’s stock, valued at $7,102,467.88. This represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 187,951 shares of company stock worth $6,268,442 in the last three months. 5.30% of the stock is owned by corporate insiders.
Viking Therapeutics Price Performance
NASDAQ VKTX opened at $32.16 on Monday. The firm has a market capitalization of $3.75 billion, a PE ratio of -6.90 and a beta of 0.69. The stock’s 50 day moving average is $35.64 and its 200 day moving average is $33.33. Viking Therapeutics, Inc. has a twelve month low of $22.96 and a twelve month high of $43.15.
Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.11. During the same period in the prior year, the company posted ($0.58) earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current year.
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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