Wesbanco Bank Inc. Has $1.38 Million Holdings in Viking Therapeutics, Inc. $VKTX

Key Points

• Wesbanco Bank Inc. increased its stake in Viking Therapeutics, Inc. by 118.5% in the second quarter, bringing its holdings to 52,000 shares valued at approximately $1.38 million.
• Viking Therapeutics' stock has seen a recent decline of 2.9%, with a current market capitalization of $2.71 billion and a PE ratio of -15.74.
• Analysts have varying perspectives on Viking Therapeutics, with Citigroup raising its price target to $38, while HC Wainwright maintains a "buy" rating with a target of $102.

Wesbanco Bank Inc. boosted its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 118.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,000 shares of the biotechnology company's stock after purchasing an additional 28,200 shares during the quarter. Wesbanco Bank Inc.'s holdings in Viking Therapeutics were worth $1,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighMark Wealth Management LLC lifted its holdings in Viking Therapeutics by 9.4% in the first quarter. HighMark Wealth Management LLC now owns 4,660 shares of the biotechnology company's stock valued at $113,000 after buying an additional 400 shares during the period. Xponance Inc. increased its holdings in Viking Therapeutics by 3.2% during the first quarter. Xponance Inc. now owns 14,470 shares of the biotechnology company's stock worth $349,000 after buying an additional 446 shares during the last quarter. Deutsche Bank AG boosted its position in Viking Therapeutics by 7.5% during the first quarter. Deutsche Bank AG now owns 6,911 shares of the biotechnology company's stock worth $167,000 after purchasing an additional 484 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in Viking Therapeutics by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 18,729 shares of the biotechnology company's stock worth $452,000 after purchasing an additional 497 shares during the period. Finally, Parallel Advisors LLC boosted its position in Viking Therapeutics by 64.8% during the first quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 536 shares during the period. Institutional investors own 76.03% of the company's stock.

Viking Therapeutics Stock Down 2.9%

Viking Therapeutics stock opened at $24.08 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of -15.74 and a beta of 0.73. The firm has a fifty day simple moving average of $30.95 and a two-hundred day simple moving average of $28.17. Viking Therapeutics, Inc. has a twelve month low of $18.92 and a twelve month high of $81.73.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VKTX. Citigroup raised their price target on Viking Therapeutics from $31.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Tuesday, August 19th. Finally, Raymond James Financial cut their price target on 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 assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $87.50.

Insider Activity

In other Viking Therapeutics news, CFO Greg Zante sold 4,266 shares of Viking Therapeutics stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.76, for a total value of $118,424.16. Following the completion of the transaction, the chief financial officer directly owned 168,660 shares of the company's stock, valued at approximately $4,682,001.60. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Lian sold 26,889 shares of Viking Therapeutics stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $27.80, for a total transaction of $747,514.20. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,421 shares of company stock worth $984,405. Insiders own 4.10% of the company's stock.

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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