ADAR1 Capital Management LLC Takes $22.39 Million Position in Viking Therapeutics, Inc. $VKTX

ADAR1 Capital Management LLC acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 574,038 shares of the biotechnology company's stock, valued at approximately $22,393,000. Viking Therapeutics comprises about 1.0% of ADAR1 Capital Management LLC's portfolio, making the stock its 21st largest position. ADAR1 Capital Management LLC owned about 0.49% of Viking Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Viking Therapeutics during the 2nd quarter worth about $241,458,000. BNP Paribas Financial Markets boosted its holdings in Viking Therapeutics by 536.3% in the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company's stock valued at $34,923,000 after purchasing an additional 836,686 shares in the last quarter. Two Sigma Investments LP increased its stake in Viking Therapeutics by 58.7% in the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company's stock valued at $54,807,000 after purchasing an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Viking Therapeutics by 41.8% in the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company's stock valued at $55,000,000 after purchasing an additional 616,526 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company's stock worth $15,811,000 after purchasing an additional 587,350 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Trading Up 2.8%

Shares of VKTX stock opened at $34.17 on Wednesday. The business's 50 day moving average is $35.45 and its two-hundred day moving average is $33.21. Viking Therapeutics, Inc. has a twelve month low of $22.96 and a twelve month high of $43.15. The company has a market capitalization of $3.99 billion, a P/E ratio of -7.33 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued 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 last year, the company earned ($0.58) EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts predict 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, CFO Greg Zante sold 21,217 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer owned 212,204 shares in the company, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their position. The sale was disclosed in a filing 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, COO Marianna Mancini sold 18,217 shares of the firm's stock in a transaction on 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 sale, the chief operating officer owned 422,760 shares of the company's stock, valued at $14,149,777.20. This trade represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BTIG Research restated a "buy" rating and issued a $125.00 target price on shares of Viking Therapeutics in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price target 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 reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Canaccord Genuity Group upped their price objective on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald decreased their price objective on shares of Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. One equities 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 data from MarketBeat.com, Viking Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

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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