Legal & General Group Plc purchased a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 97,884 shares of the biotechnology company's stock, valued at approximately $3,818,000. Legal & General Group Plc owned about 0.08% of Viking Therapeutics as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth approximately $241,458,000. Ameriprise Financial Inc. grew its holdings in shares of Viking Therapeutics by 41.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company's stock valued at $55,000,000 after purchasing an additional 616,526 shares during the last quarter. Two Sigma Investments LP raised its position in Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company's stock worth $54,807,000 after purchasing an additional 771,704 shares during the period. Geode Capital Management LLC lifted its stake in Viking Therapeutics by 24.0% in the fourth quarter. Geode Capital Management LLC now owns 1,994,509 shares of the biotechnology company's stock worth $70,183,000 after purchasing an additional 385,903 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Viking Therapeutics by 536.3% in the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company's stock worth $34,923,000 after purchasing an additional 836,686 shares during the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently issued reports on VKTX. JPMorgan Chase & Co. reduced their price objective on Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Lake Street Capital initiated coverage on Viking Therapeutics in a research note on Thursday, May 28th. They issued a "buy" rating and a $89.00 target price for the company. Truist Financial initiated coverage on Viking Therapeutics in a report on Wednesday, May 27th. They set a "buy" rating and a $83.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Finally, Canaccord Genuity Group lifted their target price on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.
View Our Latest Stock Analysis on VKTX
Viking Therapeutics Trading Up 2.6%
NASDAQ:VKTX opened at $34.87 on Friday. The business's 50-day moving average is $35.41 and its 200 day moving average is $33.46. Viking Therapeutics, Inc. has a 12 month low of $22.96 and a 12 month high of $43.15. The company has a market capitalization of $4.07 billion, a P/E ratio of -7.48 and a beta of 0.69.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.11. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.58) EPS. On average, research analysts forecast that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current year.
Insider Activity at Viking Therapeutics
In related news, CEO Brian Lian sold 148,517 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the sale, the chief executive officer owned 2,572,441 shares of the company's stock, valued at $85,713,734.12. This represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the transaction, the chief operating officer owned 422,760 shares of the company's stock, valued at $14,149,777.20. This trade represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is owned by corporate insiders.
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.
Further Reading
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