Channel Wealth LLC Takes Position in Viking Therapeutics, Inc. $VKTX

Channel Wealth LLC acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 75,475 shares of the biotechnology company’s stock, valued at approximately $2,655,000.

Other institutional investors also recently made changes to their positions in the company. RFG Advisory LLC increased its position in shares of Viking Therapeutics by 84.8% in the third quarter. RFG Advisory LLC now owns 120,214 shares of the biotechnology company’s stock valued at $3,159,000 after acquiring an additional 55,175 shares during the period. Royal Fund Management LLC purchased a new position in shares of Viking Therapeutics in the fourth quarter valued at about $1,518,000. Rafferty Asset Management LLC increased its position in shares of Viking Therapeutics by 26.6% in the third quarter. Rafferty Asset Management LLC now owns 199,387 shares of the biotechnology company’s stock valued at $5,240,000 after acquiring an additional 41,888 shares during the period. SG Americas Securities LLC increased its position in shares of Viking Therapeutics by 570.7% in the third quarter. SG Americas Securities LLC now owns 95,804 shares of the biotechnology company’s stock valued at $2,518,000 after acquiring an additional 81,519 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Viking Therapeutics in the third quarter valued at about $1,805,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Insider Buying and Selling

In other news, insider Neil William Aubuchon acquired 4,475 shares of Viking Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $33.50 per share, for a total transaction of $149,912.50. Following the completion of the transaction, the insider owned 4,475 shares in the company, valued at $149,912.50. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

VKTX has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Monday, April 20th. Truist Financial upgraded Viking Therapeutics to a “strong-buy” rating in a research report on Monday, April 27th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. HC Wainwright reiterated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Monday, March 23rd. Finally, Morgan Stanley set a $95.00 price objective on Viking Therapeutics in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Viking Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.50.

Viking Therapeutics Price Performance

VKTX stock opened at $31.33 on Friday. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The business has a fifty day moving average price of $33.55 and a 200-day moving average price of $33.96. The stock has a market capitalization of $3.64 billion, a P/E ratio of -7.57 and a beta of 0.72.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, analysts anticipate that Viking Therapeutics, Inc. will post -4.56 earnings per share for the current year.

About Viking Therapeutics

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.