Public Employees Retirement System of Ohio Purchases New Holdings in Viking Therapeutics, Inc. $VKTX

Public Employees Retirement System of Ohio acquired a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,250 shares of the biotechnology company's stock, valued at approximately $1,258,000.

Several other institutional investors have also added to or reduced their stakes in the company. Timothy G. Youngquist 2020 Irrevocable Trust grew its position in Viking Therapeutics by 141.6% in the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company's stock valued at $10,605,000 after acquiring an additional 159,349 shares during the last quarter. Cornerstone Capital Inc. bought a new stake in shares of Viking Therapeutics during the second quarter worth $3,334,000. BlackRock Inc. purchased a new stake in shares of Viking Therapeutics during the second quarter valued at $241,458,000. Dimensional Fund Advisors LP boosted its stake in shares of Viking Therapeutics by 18.0% during the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company's stock valued at $17,653,000 after purchasing an additional 82,941 shares during the period. Finally, Jupiter Topco LLC bought a new position in shares of Viking Therapeutics in the second quarter worth about $1,783,000. Institutional investors own 76.03% of the company's stock.

Viking Therapeutics Price Performance

NASDAQ:VKTX opened at $33.68 on Wednesday. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The company has a 50-day moving average of $35.21 and a 200 day moving average of $33.55. The firm has a market cap of $3.93 billion, a PE ratio of -7.23 and a beta of 0.69.

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, beating analysts' consensus estimates of ($1.21) by $0.11. During the same quarter in the previous year, the company posted ($0.58) EPS. The company's revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts anticipate that Viking Therapeutics, Inc. will post -4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on VKTX. Zacks Research raised shares of Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. decreased their price target on shares of Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Truist Financial initiated coverage on Viking Therapeutics in a report on Wednesday, May 27th. They issued a "buy" rating and a $83.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Friday, July 17th. 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 objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

Insider Activity at Viking Therapeutics

In related news, COO Marianna Mancini sold 18,217 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $609,722.99. Following the completion of the transaction, the chief operating officer owned 422,760 shares of the company's stock, valued at $14,149,777.20. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the business's 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 $710,132.99. Following the completion of the transaction, the chief financial officer directly owned 212,204 shares of the company's stock, valued at $7,102,467.88. This trade represents a 9.09% 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 have sold a total of 187,951 shares of company stock valued at $6,268,442 over the last ninety days. 5.30% of the stock is owned by company insiders.

Viking Therapeutics Profile

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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