Viking Therapeutics, Inc. $VKTX Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. trimmed its stake in Viking Therapeutics by 1.6%, selling 163,525 shares and holding 9,999,107 shares (about 8.85%) valued at roughly $262.8 million.
• Company insiders sold heavily in early January — CEO Brian Lian sold 233,409 shares and COO Marianna Mancini sold 57,661 shares — with insiders disposing of 364,731 shares (~$12.05M) over the past three months, leaving insider ownership at 4.10%.
• Analysts are mixed but overall positive: Viking has a consensus rating of "Moderate Buy" with a consensus target of $87.80; the stock trades near $33.84, has a $3.91B market cap and a negative P/E (-10.64).

Vanguard Group Inc. lowered its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,999,107 shares of the biotechnology company's stock after selling 163,525 shares during the period. Vanguard Group Inc. owned about 8.85% of Viking Therapeutics worth $262,777,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. CNB Bank increased its holdings in shares of Viking Therapeutics by 5.1% in the 3rd quarter. CNB Bank now owns 5,756 shares of the biotechnology company's stock valued at $151,000 after purchasing an additional 279 shares during the period. Allworth Financial LP increased its holdings in Viking Therapeutics by 58.4% in the second quarter. Allworth Financial LP now owns 955 shares of the biotechnology company's stock worth $25,000 after buying an additional 352 shares during the last quarter. Montag A & Associates Inc. raised its position in Viking Therapeutics by 6.1% during the second quarter. Montag A & Associates Inc. now owns 6,220 shares of the biotechnology company's stock valued at $165,000 after acquiring an additional 358 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in Viking Therapeutics by 2.4% in the second quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company's stock valued at $466,000 after acquiring an additional 406 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Viking Therapeutics by 1.3% in the third quarter. Arizona State Retirement System now owns 31,547 shares of the biotechnology company's stock valued at $829,000 after acquiring an additional 416 shares during the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VKTX. Canaccord Genuity Group upped their price objective on shares of Viking Therapeutics from $106.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, November 12th. BTIG Research upgraded Viking Therapeutics to a "strong-buy" rating in a research note on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $99.00 target price on shares of Viking Therapeutics in a research report on Thursday, February 12th. Finally, Zacks Research raised shares of Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.80.

Viking Therapeutics Trading Up 2.6%

Shares of Viking Therapeutics stock opened at $33.84 on Friday. The company has a market cap of $3.91 billion, a price-to-earnings ratio of -10.64 and a beta of 0.75. Viking Therapeutics, Inc. has a 1 year low of $18.92 and a 1 year high of $43.15. The company's fifty day simple moving average is $32.28 and its 200-day simple moving average is $32.37.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same period in the prior year, the business posted ($0.32) EPS. As a group, research analysts forecast that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other news, COO Marianna Mancini sold 57,661 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the sale, the chief operating officer owned 409,190 shares of the company's stock, valued at approximately $13,495,086.20. This trade represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Lian sold 233,409 shares of the business's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.96, for a total value of $7,693,160.64. Following the sale, the chief executive officer owned 2,499,291 shares in the company, valued at approximately $82,376,631.36. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 364,731 shares of company stock valued at $12,053,627. 4.10% of the stock is currently owned by insiders.

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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