Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Purchased by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. boosted its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 122.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,602 shares of the biotechnology company’s stock after purchasing an additional 44,365 shares during the quarter. Institute for Wealth Management LLC. owned about 0.07% of Viking Therapeutics worth $3,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VKTX. Blue Trust Inc. acquired a new position in Viking Therapeutics during the third quarter worth $26,000. GAMMA Investing LLC raised its holdings in shares of Viking Therapeutics by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 243 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Viking Therapeutics during the 3rd quarter valued at about $32,000. Stone House Investment Management LLC grew its holdings in shares of Viking Therapeutics by 66.7% in the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in Viking Therapeutics by 84.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Friday, January 17th. B. Riley initiated coverage on Viking Therapeutics in a research note on Friday, November 22nd. They issued a “buy” rating and a $109.00 price target on the stock. Piper Sandler assumed coverage on shares of Viking Therapeutics in a report on Monday, December 2nd. They issued an “overweight” rating and a $74.00 price objective on the stock. Finally, StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $106.75.

Viking Therapeutics Trading Up 0.8 %

Shares of Viking Therapeutics stock opened at $33.69 on Friday. Viking Therapeutics, Inc. has a 52-week low of $22.51 and a 52-week high of $99.41. The company has a 50 day moving average of $42.57 and a 200 day moving average of $54.75.

Insider Transactions at Viking Therapeutics

In related news, Director Lawson Macartney sold 2,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the completion of the sale, the director now owns 47,965 shares in the company, valued at $3,293,756.55. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Greg Zante sold 50,309 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $2,150,709.75. Following the completion of the sale, the chief financial officer now directly owns 165,259 shares of the company’s stock, valued at $7,064,822.25. The trade was a 23.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,014 shares of company stock valued at $12,920,189. Corporate insiders own 4.70% 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.