Timothy G. Youngquist 2020 Irrevocable Trust Has $10.61 Million Position in Viking Therapeutics, Inc. $VKTX

Key Points

• Timothy G. Youngquist 2020 Irrevocable Trust increased its Viking Therapeutics stake by 141.6% in the second quarter, holding 271,849 shares worth approximately $10.61 million, or 0.23% of VKTX.
• Institutional ownership remains high at 76.03%, with BlackRock acquiring a new position worth about $241.5 million and several other firms substantially increasing their holdings.
• VKTX was trading at $33.37, while analysts maintained a consensus “Moderate Buy” rating and an average price target of $96.62; the company reported a quarterly loss of $1.10 per share, better than the $1.21 expected.

Timothy G. Youngquist 2020 Irrevocable Trust boosted its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 141.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 271,849 shares of the biotechnology company's stock after buying an additional 159,349 shares during the quarter. Viking Therapeutics comprises 2.1% of Timothy G. Youngquist 2020 Irrevocable Trust's portfolio, making the stock its 7th biggest holding. Timothy G. Youngquist 2020 Irrevocable Trust owned 0.23% of Viking Therapeutics worth $10,605,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VKTX. BlackRock Inc. acquired a new stake in shares of Viking Therapeutics in the second quarter worth about $241,458,000. BNP Paribas Financial Markets increased its holdings in shares of Viking Therapeutics by 536.3% during the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company's stock valued at $34,923,000 after acquiring an additional 836,686 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Viking Therapeutics by 58.7% during the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company's stock valued at $54,807,000 after acquiring an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. increased 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 acquiring an additional 616,526 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Viking Therapeutics by 6,315.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company's stock valued at $15,811,000 after acquiring an additional 587,350 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Viking Therapeutics

In other news, COO Marianna Mancini sold 18,217 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer directly owned 212,204 shares of the company's stock, valued at $7,102,467.88. This 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 sold a total of 187,951 shares of company stock valued at $6,268,442 in the last ninety days. Company insiders own 5.30% of the company's stock.

Viking Therapeutics Trading Down 0.8%

VKTX opened at $33.37 on Wednesday. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -7.16 and a beta of 0.69. The business has a 50 day moving average of $34.91 and a 200-day moving average of $33.05.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same quarter last year, the company posted ($0.58) earnings per share. Viking Therapeutics's revenue for the quarter was up .0% on a year-over-year basis. Equities analysts predict that Viking Therapeutics, Inc. will post -4.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VKTX. Truist Financial initiated coverage on Viking Therapeutics in a report on Wednesday, May 27th. They issued a "buy" rating and a $83.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viking Therapeutics in a report 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 target on the stock. Cantor Fitzgerald reduced their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Viking Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $96.62.

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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