Cinctive Capital Management LP Has $1.18 Million Stock Holdings in Viking Therapeutics, Inc. $VKTX

Key Points

• Cinctive Capital Management LP increased its stake in Viking Therapeutics by 644%, owning 48,919 shares worth $1.18 million following a purchase of 42,344 additional shares in Q1.
• Viking Therapeutics reported a quarterly loss of ($0.58) EPS, missing analyst expectations and marking a decrease from a previous EPS of ($0.20).
• Several analysts have set new price targets for Viking Therapeutics, with HC Wainwright maintaining a target of $102.00 and Citigroup raising its target from $31.00 to $38.00.

Cinctive Capital Management LP grew its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 644.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,919 shares of the biotechnology company's stock after buying an additional 42,344 shares during the quarter. Cinctive Capital Management LP's holdings in Viking Therapeutics were worth $1,181,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Curi RMB Capital LLC raised its stake in shares of Viking Therapeutics by 490.0% in the 1st quarter. Curi RMB Capital LLC now owns 35,599 shares of the biotechnology company's stock valued at $860,000 after buying an additional 29,565 shares in the last quarter. 683 Capital Management LLC raised its stake in shares of Viking Therapeutics by 8.9% in the 1st quarter. 683 Capital Management LLC now owns 305,000 shares of the biotechnology company's stock valued at $7,366,000 after buying an additional 25,000 shares in the last quarter. ADAR1 Capital Management LLC raised its stake in shares of Viking Therapeutics by 538.8% in the 1st quarter. ADAR1 Capital Management LLC now owns 59,413 shares of the biotechnology company's stock valued at $1,435,000 after buying an additional 50,113 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company's stock valued at $8,396,000 after buying an additional 39,886 shares in the last quarter. Finally, Apis Capital Advisors LLC raised its stake in shares of Viking Therapeutics by 16.7% in the 1st quarter. Apis Capital Advisors LLC now owns 112,000 shares of the biotechnology company's stock valued at $2,705,000 after buying an additional 16,000 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Stock Down 1.1%

Shares of NASDAQ:VKTX opened at $26.53 on Friday. Viking Therapeutics, Inc. has a 12 month low of $18.92 and a 12 month high of $81.73. The company's 50-day moving average price is $31.21 and its two-hundred day moving average price is $28.42. The firm has a market cap of $2.98 billion, a P/E ratio of -17.34 and a beta of 0.73.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The biotechnology company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.14). During the same period in the previous year, the company earned ($0.20) EPS. The business's quarterly revenue was up NaN% on a year-over-year basis. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Viking Therapeutics news, COO Marianna Mancini sold 4,266 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.77, for a total transaction of $118,466.82. Following the sale, the chief operating officer owned 377,535 shares of the company's stock, valued at $10,484,146.95. This represents a 1.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Lian sold 26,889 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $27.80, for a total transaction of $747,514.20. Following the sale, the chief executive officer directly owned 2,388,014 shares in the company, valued at approximately $66,386,789.20. This represents a 1.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,421 shares of company stock valued at $984,405 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Tuesday, August 19th. Raymond James Financial lowered their target price on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 24th. Finally, Citigroup upped their target price on shares of Viking Therapeutics from $31.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $86.92.

Viking Therapeutics Profile

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.

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