U.S. Capital Wealth Advisors LLC Purchases 27,795 Shares of Viking Therapeutics, Inc. $VKTX

Key Points

• U.S. Capital Wealth Advisors LLC increased its stake in Viking Therapeutics by 77.7%, acquiring an additional 27,795 shares, bringing its total ownership to 63,546 shares valued at approximately $1.68 million.
• Insider selling occurred recently, with COO Marianna Mancini and CFO Greg Zante each selling 4,266 shares at average prices around $27.76, leading to slight decreases in their holdings.
• Viking Therapeutics has a consensus rating of Buy from analysts, with price targets ranging widely, including a high of $125.00 from BTIG Research.

U.S. Capital Wealth Advisors LLC boosted its position in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 77.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,546 shares of the biotechnology company's stock after purchasing an additional 27,795 shares during the period. U.S. Capital Wealth Advisors LLC owned about 0.06% of Viking Therapeutics worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. boosted its holdings in shares of Viking Therapeutics by 4.7% in the first quarter. Raymond James Financial Inc. now owns 647,391 shares of the biotechnology company's stock worth $15,634,000 after buying an additional 28,922 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 worth $14,430,000 after acquiring an additional 222,293 shares during the period. Northern Trust Corp raised its position in Viking Therapeutics by 0.5% in the first quarter. Northern Trust Corp now owns 538,636 shares of the biotechnology company's stock worth $13,008,000 after acquiring an additional 2,652 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Viking Therapeutics by 12.0% during the 1st quarter. Bank of New York Mellon Corp now owns 518,298 shares of the biotechnology company's stock worth $12,517,000 after acquiring an additional 55,334 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company's stock valued at $11,351,000 after acquiring an additional 6,696 shares during the period. Hedge funds and other institutional investors own 76.03% of the company's stock.

Insider Activity

In related news, COO Marianna Mancini sold 4,266 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $27.77, for a total transaction of $118,466.82. Following the sale, the chief operating officer owned 377,535 shares in the company, valued at approximately $10,484,146.95. This represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Greg Zante sold 4,266 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $27.76, for a total value of $118,424.16. Following the completion of the sale, the chief financial officer owned 168,660 shares of the company's stock, valued at approximately $4,682,001.60. This represents a 2.47% decrease in their ownership of the stock. 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. 4.10% of the stock is currently owned by insiders.

Viking Therapeutics Trading Down 4.9%

Shares of NASDAQ VKTX opened at $24.97 on Wednesday. Viking Therapeutics, Inc. has a 12-month low of $18.92 and a 12-month high of $81.73. The firm's 50-day moving average price is $30.23 and its 200-day moving average price is $28.05. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -16.32 and a beta of 0.73.

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 the consensus estimate of ($0.44) by ($0.14). During the same period in the prior year, the firm posted ($0.20) earnings per share. The company's quarterly revenue was up NaN% on a year-over-year basis. On average, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Tuesday, August 19th. BTIG Research restated a "buy" rating and issued a $125.00 price target on shares of Viking Therapeutics in a research report on Monday. Citigroup lifted their price objective on Viking Therapeutics from $31.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial cut their price objective on Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating for the company in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Viking Therapeutics currently has a consensus rating of "Buy" and an average price target of $90.38.

Viking Therapeutics 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.

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