Rock Springs Capital Management LP Takes Position in Viking Therapeutics, Inc. $VKTX

Key Points

• Rock Springs Capital Management acquired 96,000 Viking Therapeutics shares worth approximately $3.1 million, representing about 0.08% of the company. Institutional investors collectively own 76.03% of VKTX.
• Viking Therapeutics reported a quarterly loss of $1.37 per share, missing analysts’ estimate of a $1.01 loss; analysts expect a full-year loss of approximately $4.70 per share.
• Analyst views remain mixed, but the stock carries a consensus “Moderate Buy” rating and an average price target of $97, well above its recent price of $34.87.

Rock Springs Capital Management LP bought a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 96,000 shares of the biotechnology company's stock, valued at approximately $3,124,000. Rock Springs Capital Management LP owned about 0.08% of Viking Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VKTX. Raleigh Capital Management Inc. grew its stake in Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 347 shares in the last quarter. E Fund Management Co. Ltd. increased its position in shares of Viking Therapeutics by 2.4% during the 2nd 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 stake in shares of Viking Therapeutics by 5.1% during the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company's stock worth $329,000 after purchasing an additional 455 shares in the last quarter. Assetmark Inc. raised its stake in shares of Viking Therapeutics by 13.6% during the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company's stock worth $126,000 after purchasing an additional 462 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Viking Therapeutics by 29.5% in 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 last quarter. Institutional investors own 76.03% of the company's stock.

Viking Therapeutics Stock Performance

NASDAQ VKTX opened at $34.87 on Tuesday. The firm has a 50-day moving average of $33.91 and a 200-day moving average of $32.94. The stock has a market cap of $4.05 billion, a PE ratio of -8.42 and a beta of 0.66. Viking Therapeutics, Inc. has a 52-week low of $22.96 and a 52-week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same period last year, the company earned ($0.41) EPS. As a group, analysts predict that Viking Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on VKTX. Cantor Fitzgerald decreased their target price on shares of Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Friday, July 17th. Lake Street Capital initiated coverage on shares of Viking Therapeutics in a research report on Thursday, May 28th. They issued a "buy" rating and a $89.00 price objective for the company. Finally, Zacks Research lowered shares of Viking Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.00.

Viking Therapeutics Company 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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