The Manufacturers Life Insurance Company acquired a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,428 shares of the biotechnology company’s stock, valued at approximately $1,265,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Timothy G. Youngquist 2020 Irrevocable Trust increased its position in shares of Viking Therapeutics by 141.6% during the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company’s stock valued at $10,605,000 after purchasing an additional 159,349 shares during the period. Cornerstone Capital Inc. acquired a new stake in shares of Viking Therapeutics in the second quarter valued at $3,334,000. BlackRock Inc. bought a new position in Viking Therapeutics during the second quarter valued at about $241,458,000. Dimensional Fund Advisors LP boosted its stake in Viking Therapeutics by 18.0% during the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock valued at $17,653,000 after buying an additional 82,941 shares in the last quarter. Finally, Channel Wealth LLC acquired a new position in Viking Therapeutics during the fourth quarter worth about $2,655,000. Institutional investors own 76.03% of the company’s stock.
Insider Buying and Selling at Viking Therapeutics
In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of the firm’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 $710,132.99. Following the completion of the transaction, the chief financial officer directly owned 212,204 shares in the company, valued at $7,102,467.88. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the transaction, the chief operating officer owned 422,760 shares of the company’s stock, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is currently owned by corporate insiders.
Viking Therapeutics Stock Up 2.6%
Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.11. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted ($0.58) earnings per share. Analysts expect that Viking Therapeutics, Inc. will post -4.47 EPS for the current year.
Analysts Set New Price Targets
VKTX has been the topic of several research reports. Lake Street Capital initiated coverage on shares of Viking Therapeutics in a research report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Friday, July 17th. Truist Financial assumed coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price for the company. Finally, Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.62.
View Our Latest Report on VKTX
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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