Cambridge Investment Research Advisors Inc. Acquires 16,302 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Cambridge Investment Research Advisors Inc. grew its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 121.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,721 shares of the biotechnology company's stock after purchasing an additional 16,302 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Viking Therapeutics were worth $718,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Viking Therapeutics in the 4th quarter valued at about $51,464,000. Massachusetts Financial Services Co. MA lifted its position in shares of Viking Therapeutics by 446.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock worth $54,615,000 after purchasing an additional 1,108,972 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Viking Therapeutics by 228.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock worth $59,540,000 after purchasing an additional 1,029,125 shares in the last quarter. Raymond James Financial Inc. bought a new position in Viking Therapeutics during the fourth quarter valued at approximately $24,888,000. Finally, Man Group plc raised its position in Viking Therapeutics by 3,373.4% during the fourth quarter. Man Group plc now owns 448,732 shares of the biotechnology company's stock valued at $18,057,000 after acquiring an additional 435,813 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Viking Therapeutics Stock Down 0.6%

Shares of NASDAQ VKTX traded down $0.18 during trading hours on Friday, hitting $31.11. The company had a trading volume of 2,829,639 shares, compared to its average volume of 4,057,439. The stock has a market capitalization of $3.49 billion, a P/E ratio of -27.05 and a beta of 0.62. Viking Therapeutics, Inc. has a 1-year low of $18.92 and a 1-year high of $81.73. The firm's 50 day moving average is $27.58 and its 200-day moving average is $29.46.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). During the same period in the prior year, the business earned ($0.26) earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In related news, CEO Brian Lian sold 26,889 shares of Viking Therapeutics stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $27.80, for a total value of $747,514.20. Following the transaction, the chief executive officer directly owned 2,388,014 shares of the company's stock, valued at $66,386,789.20. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Marianna Mancini sold 4,266 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $27.77, for a total value of $118,466.82. Following the completion of the transaction, the chief operating officer directly owned 377,535 shares in the company, valued at approximately $10,484,146.95. This trade represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,421 shares of company stock valued at $984,405. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VKTX has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a research report on Wednesday, June 25th. The Goldman Sachs Group started coverage on shares of Viking Therapeutics in a research note on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target on the stock. Morgan Stanley reduced their target price on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Truist Financial reiterated a "buy" rating and set a $75.00 price target (down previously from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. Finally, Cantor Fitzgerald raised Viking Therapeutics to a "strong-buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Viking Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $87.15.

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.