Viking Therapeutics, Inc. $VKTX Stake Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Viking Therapeutics stake by 18% in the first quarter, adding 82,941 shares to own 542,516 shares valued at approximately $17.7 million. Institutional investors collectively hold 76.03% of the company.
• Viking’s CFO and CEO sold shares to cover tax obligations tied to vested equity awards. Insiders sold 187,951 shares worth about $6.27 million over the past 90 days.
• VKTX recently traded near $34, while analysts maintained a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $97.88. The company also exceeded quarterly earnings expectations, reporting a loss of $1.10 per share versus the expected $1.21 loss.

Dimensional Fund Advisors LP boosted its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 18.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 542,516 shares of the biotechnology company's stock after buying an additional 82,941 shares during the period. Dimensional Fund Advisors LP owned 0.47% of Viking Therapeutics worth $17,653,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Quattro Advisors LLC bought a new stake in Viking Therapeutics in the fourth quarter worth about $37,000. Fifth Third Bancorp raised its position in shares of Viking Therapeutics by 169.2% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 677 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Viking Therapeutics by 250.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the biotechnology company's stock valued at $49,000 after purchasing an additional 1,000 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position 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 purchasing an additional 481 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of Viking Therapeutics in the 1st quarter valued at $78,000. Institutional investors and hedge funds own 76.03% of the company's stock.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of Viking Therapeutics stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $710,132.99. Following the sale, the chief financial officer directly owned 212,204 shares of the company's stock, valued at approximately $7,102,467.88. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the completion of the sale, the chief executive officer directly owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. The trade was a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is currently owned by corporate insiders.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $34.26 on Friday. The firm has a fifty day moving average of $34.33 and a 200-day moving average of $32.99. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -7.35 and a beta of 0.69. 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 posted its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts' consensus estimates of ($1.21) by $0.11. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. Viking Therapeutics's revenue was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Viking Therapeutics, Inc. will post -4.5 earnings per share for the current year.

Analysts Set New Price Targets

VKTX has been the topic of several recent analyst reports. Cantor Fitzgerald cut their price objective on Viking Therapeutics from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Canaccord Genuity Group raised their target price on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Truist Financial began coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They issued a "buy" rating and a $83.00 target price on the stock. Zacks Research lowered shares of Viking Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Finally, BTIG Research restated a "buy" rating and issued a $125.00 price target on shares of Viking Therapeutics in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $97.88.

About Viking Therapeutics

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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