41,416 Shares in Viking Therapeutics, Inc. $VKTX Acquired by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,416 shares of the biotechnology company’s stock, valued at approximately $1,615,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Viking Therapeutics by 13.0% in the first quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after buying an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Viking Therapeutics during the 1st quarter worth $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock worth $11,351,000 after acquiring an additional 6,696 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Viking Therapeutics in the 2nd quarter worth $196,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 481 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VKTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Friday, July 17th. JPMorgan Chase & Co. cut their price objective on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Truist Financial started coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective for the company. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Canaccord Genuity Group boosted their price target on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Viking Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Insider Buying and Selling at Viking Therapeutics

In other news, COO Marianna Mancini sold 18,217 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the transaction, the chief operating officer directly owned 422,760 shares in the company, valued at $14,149,777.20. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer owned 212,204 shares in the company, valued at approximately $7,102,467.88. This represents a 9.09% 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 quarter, insiders have sold 187,951 shares of company stock worth $6,268,442. 5.30% of the stock is currently owned by company insiders.

Viking Therapeutics Price Performance

Shares of VKTX opened at $32.78 on Tuesday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -7.03 and a beta of 0.69. Viking Therapeutics, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $43.15. The business’s 50-day moving average is $35.65 and its 200-day moving average is $33.36.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.11. Viking Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) EPS. Equities research analysts expect that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current fiscal year.

Viking Therapeutics Company 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.