Artia Global Partners LP Buys New Position in Viking Therapeutics, Inc. $VKTX

Artia Global Partners LP purchased a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 180,731 shares of the biotechnology company's stock, valued at approximately $7,050,000. Viking Therapeutics accounts for about 1.3% of Artia Global Partners LP's investment portfolio, making the stock its 16th largest holding. Artia Global Partners LP owned about 0.15% of Viking Therapeutics as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Ballast Advisors LLC purchased a new stake in Viking Therapeutics during the 1st quarter worth approximately $33,000. Quattro Advisors LLC acquired a new position in Viking Therapeutics during the 4th quarter worth approximately $37,000. Fifth Third Bancorp increased its holdings in 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 buying an additional 677 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Viking Therapeutics in the 1st quarter valued at about $50,000. Finally, Allworth Financial LP acquired a new stake in Viking Therapeutics during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Price Performance

Viking Therapeutics stock opened at $34.38 on Thursday. The stock has a market capitalization of $4.01 billion, a P/E ratio of -7.38 and a beta of 0.69. Viking Therapeutics, Inc. has a 12-month low of $22.96 and a 12-month high of $43.15. The firm's 50-day moving average is $35.53 and its two-hundred day moving average is $33.27.

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 the consensus estimate of ($1.21) by $0.11. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted ($0.58) EPS. As a group, analysts forecast that Viking Therapeutics, Inc. will post -4.47 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other news, CEO Brian Lian sold 148,517 shares of Viking Therapeutics stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the transaction, the chief executive officer directly owned 2,572,441 shares of the company's stock, valued at $85,713,734.12. The trade was a 5.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock in a transaction that occurred 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 sale, the chief operating officer directly owned 422,760 shares of the company's stock, valued at approximately $14,149,777.20. This trade represents a 4.13% 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 have sold a total of 187,951 shares of company stock worth $6,268,442 in the last quarter. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VKTX. Cantor Fitzgerald decreased their target price on Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a report on Friday, July 17th. Canaccord Genuity Group increased their price target 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. 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 report on Tuesday, August 11th. Finally, Morgan Stanley set a $95.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Viking Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $96.62.

Viking Therapeutics Company 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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