BlackRock Inc. acquired a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,189,649 shares of the biotechnology company's stock, valued at approximately $241,458,000. BlackRock Inc. owned approximately 5.31% of Viking Therapeutics as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ballast Advisors LLC purchased a new position in shares of Viking Therapeutics in the 1st quarter worth approximately $33,000. Quattro Advisors LLC bought a new stake in Viking Therapeutics during the fourth quarter worth $37,000. Fifth Third Bancorp lifted its holdings in Viking Therapeutics by 169.2% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 677 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Viking Therapeutics in the first quarter worth $50,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Viking Therapeutics by 29.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.
Viking Therapeutics Price Performance
Shares of VKTX opened at $34.38 on Thursday. Viking Therapeutics, Inc. has a 1 year low of $22.96 and a 1 year high of $43.15. The stock's fifty day moving average price is $35.53 and its two-hundred day moving average price is $33.27. The firm has a market cap of $4.01 billion, a PE ratio of -7.38 and a beta of 0.69.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same period in the prior year, the company posted ($0.58) EPS. The business's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts anticipate that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current fiscal year.
Insider Buying and Selling at Viking Therapeutics
In other Viking Therapeutics news, COO Marianna Mancini sold 18,217 shares of the stock in a transaction dated Wednesday, July 29th. The shares were 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 in the company, valued at $14,149,777.20. This trade 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 is available 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 stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer owned 212,204 shares of the company's stock, valued at $7,102,467.88. This represents a 9.09% 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 a total of 187,951 shares of company stock valued at $6,268,442 over the last three months. 5.30% of the stock is currently owned by insiders.
Analyst Ratings Changes
VKTX has been the topic of a number of research analyst reports. Lake Street Capital assumed coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They issued a "buy" rating and a $89.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Canaccord Genuity Group lifted their price objective on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Truist Financial assumed coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They issued a "buy" rating and a $83.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.62.
Read Our Latest Stock Analysis on VKTX
Viking Therapeutics Company Profile
(
Free Report)
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.
Further Reading
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