75,475 Shares in Viking Therapeutics, Inc. $VKTX Bought by Channel Wealth LLC

Channel Wealth LLC acquired a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 75,475 shares of the biotechnology company's stock, valued at approximately $2,655,000. Channel Wealth LLC owned 0.07% of Viking Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Viking Therapeutics in the third quarter worth about $30,000. Raleigh Capital Management Inc. raised its position in Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 347 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Viking Therapeutics in the third quarter worth about $38,000. Fifth Third Bancorp raised its stake in shares of Viking Therapeutics by 169.3% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company's stock valued at $38,000 after buying an additional 677 shares during the period. Finally, Avion Wealth raised its stake in shares of Viking Therapeutics by 1,157.0% in the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company's stock valued at $39,000 after buying an additional 1,400 shares during the period. Institutional investors own 76.03% of the company's stock.

Insider Activity

In other news, insider Neil William Aubuchon acquired 4,475 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $33.50 per share, for a total transaction of $149,912.50. Following the acquisition, the insider owned 4,475 shares of the company's stock, valued at $149,912.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Monday, April 20th. BTIG Research restated a "buy" rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Cantor Fitzgerald lowered their target price on Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Morgan Stanley set a $95.00 target price on Viking Therapeutics in a research note on Thursday, April 30th. Finally, Truist Financial raised shares of Viking Therapeutics to a "strong-buy" rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $95.50.

Viking Therapeutics Stock Down 0.8%

Shares of NASDAQ VKTX opened at $31.33 on Friday. The firm has a market capitalization of $3.64 billion, a P/E ratio of -7.57 and a beta of 0.72. The stock's 50-day simple moving average is $33.55 and its two-hundred day simple moving average is $33.96. 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 released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.36). During the same period last year, the firm earned ($0.41) EPS. As a group, research analysts anticipate that Viking Therapeutics, Inc. will post -4.56 EPS for the current fiscal year.

Viking Therapeutics Profile

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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