Jupiter Topco LLC acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 45,700 shares of the biotechnology company's stock, valued at approximately $1,783,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. E Fund Management Co. Ltd. grew its holdings in shares of Viking Therapeutics by 2.4% in the second 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 during the last quarter. Prospera Financial Services Inc raised 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 valued at $329,000 after buying an additional 455 shares during the last quarter. Assetmark Inc. raised 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 during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Viking Therapeutics by 29.5% during the 2nd 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. Finally, Banque Cantonale Vaudoise boosted its position in Viking Therapeutics by 16.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,752 shares of the biotechnology company's stock valued at $98,000 after buying an additional 536 shares during the period. Institutional investors own 76.03% of the company's stock.
Viking Therapeutics Stock Up 1.4%
NASDAQ:VKTX opened at $33.98 on Friday. The firm's fifty day simple moving average is $35.48 and its 200 day simple moving average is $33.45. The stock has a market cap of $3.96 billion, a P/E ratio of -7.29 and a beta of 0.69. Viking Therapeutics, Inc. has a twelve month low of $22.96 and a twelve month high of $43.15.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.11. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. On average, analysts expect that Viking Therapeutics, Inc. will post -4.47 EPS for the current fiscal year.
Insider Buying and Selling
In other Viking Therapeutics news, COO Marianna Mancini sold 18,217 shares of Viking Therapeutics 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 sale, the chief operating officer directly owned 422,760 shares of the company's stock, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the transaction, the chief executive officer owned 2,572,441 shares in the company, valued at $85,713,734.12. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 187,951 shares of company stock valued at $6,268,442 over the last three months. Corporate insiders own 5.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on VKTX. Weiss Ratings restated a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded shares of Viking Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. dropped their target price on shares of Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Canaccord Genuity Group raised their target price on Viking Therapeutics from $107.00 to $114.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Lake Street Capital started coverage on Viking Therapeutics in a report on Thursday, May 28th. They set a "buy" rating and a $89.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.62.
Read Our Latest Analysis on Viking Therapeutics
Viking Therapeutics Company Profile
(
Free Report)
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.
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