Lisanti Capital Growth LLC Makes New $6.49 Million Investment in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Lisanti Capital Growth LLC acquired a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 348,970 shares of the biotechnology company's stock, valued at approximately $6,494,000. Viking Therapeutics comprises approximately 1.5% of Lisanti Capital Growth LLC's portfolio, making the stock its 15th biggest holding. Lisanti Capital Growth LLC owned about 0.35% of Viking Therapeutics at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Wetzel Investment Advisors Inc. acquired a new position in Viking Therapeutics during the fourth quarter worth approximately $37,000. Allspring Global Investments Holdings LLC raised its position in shares of Viking Therapeutics by 270.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,048 shares of the biotechnology company's stock worth $122,000 after buying an additional 8,063 shares during the period. 9258 Wealth Management LLC boosted its holdings in Viking Therapeutics by 20.2% in the third quarter. 9258 Wealth Management LLC now owns 12,028 shares of the biotechnology company's stock valued at $133,000 after acquiring an additional 2,023 shares during the last quarter. Corton Capital Inc. purchased a new stake in Viking Therapeutics during the third quarter valued at about $133,000. Finally, Aigen Investment Management LP acquired a new stake in Viking Therapeutics during the third quarter worth about $148,000. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX traded up $1.24 during midday trading on Monday, reaching $78.21. 3,195,374 shares of the company's stock were exchanged, compared to its average volume of 5,441,898. The stock has a market capitalization of $8.62 billion, a PE ratio of -79.86 and a beta of 1.12. Viking Therapeutics, Inc. has a 52-week low of $8.28 and a 52-week high of $99.41. The business's fifty day moving average price is $73.19 and its two-hundred day moving average price is $37.89.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.01. During the same period in the previous year, the firm earned ($0.25) EPS. Analysts predict that Viking Therapeutics, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian Lian sold 269,079 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $26.87, for a total value of $7,230,152.73. Following the completion of the sale, the chief executive officer now directly owns 2,184,882 shares of the company's stock, valued at $58,707,779.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Brian Lian sold 269,079 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $26.87, for a total transaction of $7,230,152.73. Following the transaction, the chief executive officer now directly owns 2,184,882 shares in the company, valued at $58,707,779.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah Kathryn Rouan sold 25,000 shares of Viking Therapeutics stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $28.05, for a total transaction of $701,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,260 shares of company stock worth $35,054,299. 4.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Viking Therapeutics in a research report on Thursday, March 7th. They set a "buy" rating and a $110.00 target price for the company. Raymond James raised their target price on shares of Viking Therapeutics from $37.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. Oppenheimer upped their price target on shares of Viking Therapeutics from $116.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 26th. Truist Financial raised their price objective on Viking Therapeutics from $32.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Finally, William Blair reaffirmed an "outperform" rating on shares of Viking Therapeutics in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Viking Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $112.25.

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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