First Trust Advisors LP Acquires Shares of 105,570 Viking Therapeutics, Inc. $VKTX

Key Points

• First Trust Advisors LP acquired 105,570 shares of Viking Therapeutics worth approximately $3.44 million, giving it a 0.09% stake. Institutional investors collectively own 76.03% of the company.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $97.88, despite recent sell and strong-sell ratings from some firms.
• Viking Therapeutics shares opened at $33.51, while the company reported a quarterly loss of $1.10 per share—better than the consensus estimate of a $1.21 loss. Executives also sold shares to cover tax obligations related to vested equity awards.

First Trust Advisors LP bought a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 105,570 shares of the biotechnology company's stock, valued at approximately $3,435,000. First Trust Advisors LP owned 0.09% of Viking Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Raleigh Capital Management Inc. lifted its position in shares of Viking Therapeutics by 58.0% during 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 in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company's stock worth $466,000 after purchasing an additional 406 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in Viking Therapeutics by 5.1% during the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company's stock worth $329,000 after purchasing an additional 455 shares in the last quarter. Assetmark Inc. grew its holdings in Viking Therapeutics by 13.6% during the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company's stock valued at $126,000 after buying an additional 462 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Viking Therapeutics by 29.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company's stock valued at $56,000 after buying an additional 481 shares during the period. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Lake Street Capital began coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They set a "buy" rating and a $89.00 price objective for the company. Zacks Research downgraded Viking Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Monday, July 20th. Truist Financial began coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They issued a "buy" rating and a $83.00 target price on the stock. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a research report on Thursday, April 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.88.

Viking Therapeutics Stock Up 1.7%

NASDAQ VKTX opened at $33.51 on Thursday. The company has a 50-day simple moving average of $34.28 and a two-hundred day simple moving average of $32.99. Viking Therapeutics, Inc. has a 12-month low of $22.96 and a 12-month high of $43.15. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -7.19 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts' consensus estimates of ($1.21) by $0.11. The business's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.58) earnings per share. Equities analysts expect that Viking Therapeutics, Inc. will post -4.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In other news, CFO Greg Zante sold 21,217 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 $710,132.99. Following the completion of the sale, the chief financial officer owned 212,204 shares of the company's stock, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 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 completion of the transaction, the chief operating officer owned 422,760 shares in the company, valued at $14,149,777.20. This 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. Over the last 90 days, insiders sold 187,951 shares of company stock worth $6,268,442. 5.30% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding VKTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source