Wealth Management Associates Inc. Purchases Shares of 9,975 Viking Therapeutics, Inc. $VKTX

Key Points

• Wealth Management Associates Inc. has acquired 9,975 shares of Viking Therapeutics, valued at approximately $241,000, as disclosed in their recent SEC filing.
• Viking Therapeutics reported a loss of ($0.58) earnings per share for the quarter, falling short of the consensus estimate, with analysts projecting an earnings per share of -1.56 for the current fiscal year.
• Insider trading disclosures reveal that CEO Brian Lian sold 26,889 shares for over $747,000, decreasing his ownership in the company while still holding 2.38 million shares.

Wealth Management Associates Inc. purchased a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,975 shares of the biotechnology company's stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Flaharty Asset Management LLC acquired a new stake in shares of Viking Therapeutics in the 1st quarter valued at $56,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 worth $11,351,000 after purchasing an additional 6,696 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Viking Therapeutics by 222.7% in the first quarter. Woodline Partners LP now owns 301,078 shares of the biotechnology company's stock valued at $7,271,000 after acquiring an additional 207,784 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Viking Therapeutics in the first quarter valued at about $230,000. Finally, Granahan Investment Management LLC boosted its holdings in shares of Viking Therapeutics by 20.4% in the first quarter. Granahan Investment Management LLC now owns 367,961 shares of the biotechnology company's stock valued at $8,886,000 after acquiring an additional 62,375 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Price Performance

VKTX opened at $25.87 on Thursday. The stock has a market capitalization of $2.91 billion, a PE ratio of -16.91 and a beta of 0.73. The firm's fifty day moving average price is $31.13 and its 200 day moving average price is $28.25. Viking Therapeutics, Inc. has a 12-month low of $18.92 and a 12-month high of $81.73.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.14). The firm's quarterly revenue was up NaN% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) EPS. On average, equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian Lian sold 26,889 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.80, for a total value of $747,514.20. Following the sale, the chief executive officer owned 2,388,014 shares of the company's stock, valued at $66,386,789.20. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Marianna Mancini sold 4,266 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $27.77, for a total transaction of $118,466.82. Following the completion of the sale, 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 position. 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. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Viking Therapeutics from $31.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. HC Wainwright reissued a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Tuesday, August 19th. Finally, Raymond James Financial lowered their target price on shares of Viking Therapeutics from $125.00 to $122.00 and set a "strong-buy" rating for the company in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Viking Therapeutics has a consensus rating of "Buy" and an average price target of $87.50.

Viking Therapeutics Company 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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