Institute for Wealth Management LLC. Raises Stock Position in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Institute for Wealth Management LLC. boosted its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,337 shares of the biotechnology company's stock after acquiring an additional 9,735 shares during the period. Institute for Wealth Management LLC. owned 0.08% of Viking Therapeutics worth $2,182,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VKTX. MN Wealth Advisors LLC lifted its stake in shares of Viking Therapeutics by 215.7% during the 1st quarter. MN Wealth Advisors LLC now owns 18,628 shares of the biotechnology company's stock valued at $450,000 after buying an additional 12,728 shares in the last quarter. GSB Wealth Management LLC lifted its stake in shares of Viking Therapeutics by 12.2% during the 1st quarter. GSB Wealth Management LLC now owns 8,317 shares of the biotechnology company's stock valued at $201,000 after buying an additional 907 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Viking Therapeutics by 286.0% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 20,245 shares of the biotechnology company's stock worth $489,000 after purchasing an additional 15,000 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in Viking Therapeutics by 101.7% in the 1st quarter. Wesbanco Bank Inc. now owns 23,800 shares of the biotechnology company's stock worth $575,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Principia Wealth Advisory LLC lifted its stake in Viking Therapeutics by 10.5% in the 1st quarter. Principia Wealth Advisory LLC now owns 6,478 shares of the biotechnology company's stock worth $150,000 after purchasing an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Wall Street Analysts Forecast Growth

VKTX has been the topic of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Thursday, April 24th. Truist Financial reiterated a "buy" rating and issued a $75.00 price target (down previously from $95.00) on shares of Viking Therapeutics in a research note on Monday, April 28th. The Goldman Sachs Group initiated coverage on shares of Viking Therapeutics in a research note on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price target on the stock. Morgan Stanley decreased 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 note on Thursday, April 24th. Finally, Cantor Fitzgerald upgraded shares of Viking Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $87.15.

Insider Activity at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of Viking Therapeutics stock in a transaction dated Monday, March 31st. The shares were acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the transaction, the director now owns 1,240 shares in the company, valued at $29,946. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by insiders.

Viking Therapeutics Stock Down 1.0%

NASDAQ:VKTX traded down $0.27 during mid-day trading on Friday, hitting $26.01. 2,953,670 shares of the stock traded hands, compared to its average volume of 4,041,002. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -22.62 and a beta of 0.65. Viking Therapeutics, Inc. has a 52 week low of $18.92 and a 52 week high of $81.73. The firm's 50 day moving average is $26.90 and its two-hundred day moving average is $31.13.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.10). The firm's revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.26) EPS. As a group, research analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

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.