WINTON GROUP Ltd Takes $3.53 Million Position in Viking Therapeutics, Inc. $VKTX

Key Points

• WINTON GROUP Ltd acquired 90,546 Viking Therapeutics shares valued at approximately $3.53 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 76.03% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $96.62, despite JPMorgan lowering its target to $65.
• VKTX opened at $32.13, compared with a 52-week range of $22.96 to $43.15. The company reported a quarterly loss of $1.10 per share, beating estimates for a $1.21 loss.

WINTON GROUP Ltd bought a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 90,546 shares of the biotechnology company's stock, valued at approximately $3,532,000. WINTON GROUP Ltd owned 0.08% of Viking Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Timothy G. Youngquist 2020 Irrevocable Trust boosted its holdings in shares of Viking Therapeutics by 141.6% in the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company's stock worth $10,605,000 after acquiring an additional 159,349 shares in the last quarter. Cornerstone Capital Inc. acquired a new position in Viking Therapeutics during the second quarter valued at approximately $3,334,000. BlackRock Inc. bought a new stake in shares of Viking Therapeutics in the second quarter worth about $241,458,000. Dimensional Fund Advisors LP raised its holdings in shares of Viking Therapeutics by 18.0% during the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company's stock worth $17,653,000 after acquiring an additional 82,941 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in Viking Therapeutics in the 2nd quarter valued at approximately $1,783,000. 76.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VKTX shares. JPMorgan Chase & Co. dropped their price objective on Viking Therapeutics from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Lake Street Capital initiated coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They set a "buy" rating and a $89.00 price objective on the stock. Truist Financial started coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They set a "buy" rating and a $83.00 price target on the stock. Zacks Research upgraded shares of Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, Canaccord Genuity Group lifted their target price on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

Viking Therapeutics Price Performance

VKTX opened at $32.13 on Friday. The company's 50-day moving average is $35.01 and its 200 day moving average is $33.57. Viking Therapeutics, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $43.15. The firm has a market capitalization of $3.75 billion, a P/E ratio of -6.89 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.11. During the same period in the previous year, the business earned ($0.58) EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts expect that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian Lian sold 148,517 shares of Viking Therapeutics 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 owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. This trade represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the transaction, the chief operating officer owned 422,760 shares of the company's stock, valued at $14,149,777.20. This trade represents a 4.13% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 187,951 shares of company stock valued at $6,268,442. Company insiders own 5.30% of the company's stock.

Viking Therapeutics 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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