Granahan Investment Management LLC Increases Holdings in Viking Therapeutics, Inc. $VKTX

Key Points

• Granahan Investment Management LLC increased its stake in Viking Therapeutics by 20.4%, now owning 367,961 shares, worth approximately $8.89 million.
• Several institutional investors have significantly modified their holdings, with some such as Quarry LP increasing their position by over 1,621%.
• Analysts have shown a generally positive outlook on Viking Therapeutics, with a consensus rating of "Buy" and an average target price of $86.92.

Granahan Investment Management LLC grew its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 20.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 367,961 shares of the biotechnology company's stock after acquiring an additional 62,375 shares during the quarter. Granahan Investment Management LLC owned 0.33% of Viking Therapeutics worth $8,886,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Quarry LP raised its position in shares of Viking Therapeutics by 1,621.4% in the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 1,135 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Viking Therapeutics by 64.8% during the first quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company's stock valued at $33,000 after buying an additional 536 shares during the last quarter. NBC Securities Inc. raised its holdings in Viking Therapeutics by 222,100.0% in the 1st quarter. NBC Securities Inc. now owns 2,222 shares of the biotechnology company's stock worth $53,000 after acquiring an additional 2,221 shares during the last quarter. JNBA Financial Advisors purchased a new position in Viking Therapeutics in the 1st quarter worth approximately $56,000. Finally, Future Financial Wealth Managment LLC lifted its position in Viking Therapeutics by 1,242.9% in the 1st quarter. Future Financial Wealth Managment LLC now owns 2,350 shares of the biotechnology company's stock valued at $57,000 after acquiring an additional 2,175 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VKTX. HC Wainwright restated a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Tuesday, August 19th. Citigroup boosted their target price on Viking Therapeutics from $31.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, 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 research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $86.92.

Viking Therapeutics Price Performance

Shares of VKTX opened at $26.53 on Friday. The firm has a market capitalization of $2.98 billion, a P/E ratio of -17.34 and a beta of 0.73. Viking Therapeutics, Inc. has a one year low of $18.92 and a one year high of $81.73. The business has a fifty day moving average of $31.21 and a 200 day moving average of $28.42.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.14). Viking Therapeutics's revenue was up NaN% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) earnings per share. Analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Marianna Mancini sold 4,266 shares of the business'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 completion of the sale, the chief operating officer directly owned 377,535 shares in the company, valued at approximately $10,484,146.95. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Greg Zante sold 4,266 shares of Viking Therapeutics stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $27.76, for a total transaction of $118,424.16. Following the transaction, the chief financial officer owned 168,660 shares in the company, valued at $4,682,001.60. This represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,421 shares of company stock valued at $984,405. 4.10% of the stock is owned by insiders.

Viking Therapeutics Company 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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