Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Purchased by Financial Counselors Inc.

Financial Counselors Inc. grew its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 43.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,476 shares of the biotechnology company's stock after acquiring an additional 16,823 shares during the period. Financial Counselors Inc.'s holdings in Viking Therapeutics were worth $1,340,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in shares of Viking Therapeutics by 15.0% during the first quarter. Envestnet Asset Management Inc. now owns 48,139 shares of the biotechnology company's stock valued at $1,163,000 after acquiring an additional 6,294 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Viking Therapeutics during the first quarter worth about $220,000. Bank of New York Mellon Corp lifted its position in shares of Viking Therapeutics by 12.0% during the first quarter. Bank of New York Mellon Corp now owns 518,298 shares of the biotechnology company's stock worth $12,517,000 after purchasing an additional 55,334 shares during the last quarter. JNBA Financial Advisors bought a new position in shares of Viking Therapeutics during the first quarter worth about $56,000. Finally, CNB Bank lifted its position in shares of Viking Therapeutics by 141.6% during the first quarter. CNB Bank now owns 5,330 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 3,124 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Viking Therapeutics

In related news, COO Marianna Mancini sold 4,266 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $27.77, for a total transaction of $118,466.82. Following the transaction, the chief operating officer owned 377,535 shares in the company, valued at $10,484,146.95. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Lian sold 26,889 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $27.80, for a total transaction of $747,514.20. Following the transaction, the chief executive officer owned 2,388,014 shares in the company, valued at $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 35,421 shares of company stock worth $984,405 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Viking Therapeutics Stock Performance

Shares of VKTX traded down $0.18 during mid-day trading on Friday, reaching $31.11. 2,829,639 shares of the company's stock traded hands, compared to its average volume of 4,066,393. The business's 50-day moving average price is $27.61 and its 200-day moving average price is $29.29. The stock has a market capitalization of $3.49 billion, a P/E ratio of -27.05 and a beta of 0.62. Viking Therapeutics, Inc. has a 12 month low of $18.92 and a 12 month high of $81.73.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). During the same quarter in the prior year, the company earned ($0.26) earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VKTX shares. Cantor Fitzgerald raised shares of Viking Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 29th. HC Wainwright reaffirmed a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Wednesday, June 25th. Morgan Stanley reduced their price target on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Finally, Truist Financial reissued a "buy" rating and issued a $75.00 target price (down previously from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.15.

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.