Nuveen LLC Invests $9.28 Million in Viking Therapeutics, Inc. $VKTX

Key Points

• Nuveen LLC has acquired a significant stake of 384,379 shares in Viking Therapeutics, Inc., valued at approximately $9.3 million, reflecting a 0.34% ownership in the company as of the most recent quarter.
• Multiple hedge funds and institutional investors have increased their stakes in Viking Therapeutics, with a reported 76.03% of the stock currently held by such investors.
• Analysts have shown strong interest in the stock, with a consensus rating of "Buy" and targeted price estimates ranging from $38.00 to $122.00, highlighting a favorable outlook for Viking Therapeutics.

Nuveen LLC purchased a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 384,379 shares of the biotechnology company's stock, valued at approximately $9,283,000. Nuveen LLC owned about 0.34% of Viking Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aigen Investment Management LP acquired a new position in shares of Viking Therapeutics during the 1st quarter worth approximately $333,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Viking Therapeutics by 59.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 597,515 shares of the biotechnology company's stock valued at $14,430,000 after buying an additional 222,293 shares in the last quarter. Deutsche Bank AG boosted its position in Viking Therapeutics by 7.5% in the first quarter. Deutsche Bank AG now owns 6,911 shares of the biotechnology company's stock valued at $167,000 after buying an additional 484 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Viking Therapeutics during the first quarter valued at $1,208,000. Finally, Raiffeisen Bank International AG raised its stake in shares of Viking Therapeutics by 108.3% during the first quarter. Raiffeisen Bank International AG now owns 25,000 shares of the biotechnology company's stock valued at $641,000 after acquiring an additional 13,000 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company's stock.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX traded up $0.19 during trading hours on Tuesday, hitting $26.04. The company's stock had a trading volume of 7,282,689 shares, compared to its average volume of 9,268,463. The business has a 50-day simple moving average of $31.14 and a 200-day simple moving average of $28.55. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -17.02 and a beta of 0.67. Viking Therapeutics, Inc. has a 12 month low of $18.92 and a 12 month high of $81.73.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.14). The business's revenue was up NaN% compared to the same quarter last year. During the same quarter last year, the company earned ($0.20) earnings per share. On average, equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on VKTX shares. Truist Financial restated a "buy" rating and issued a $75.00 target price (down previously from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. Cantor Fitzgerald raised shares of Viking Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 29th. Raymond James Financial cut their price target on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 24th. Citigroup boosted their target price on shares of Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, HC Wainwright reiterated a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a research note on Tuesday, August 19th. Two 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 company's stock. According to data from MarketBeat.com, Viking Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $86.92.

Insider Activity

In other news, CEO Brian Lian sold 26,889 shares of Viking Therapeutics stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.80, for a total transaction of $747,514.20. Following the sale, the chief executive officer owned 2,388,014 shares of the company's stock, valued at approximately $66,386,789.20. The trade was a 1.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Greg Zante sold 4,266 shares of Viking Therapeutics stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.76, for a total transaction of $118,424.16. Following the sale, the chief financial officer directly owned 168,660 shares in the company, valued at $4,682,001.60. The trade was a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,421 shares of company stock valued at $984,405. Corporate insiders own 4.10% of the company's stock.

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.