Lewis Asset Management LLC Raises Position in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Lewis Asset Management LLC increased its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 35.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 41,275 shares of the biotechnology company’s stock after purchasing an additional 10,880 shares during the period. Viking Therapeutics accounts for 1.3% of Lewis Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Lewis Asset Management LLC’s holdings in Viking Therapeutics were worth $1,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. bought a new position in Viking Therapeutics in the 3rd quarter valued at $26,000. GAMMA Investing LLC boosted its holdings in Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 243 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in Viking Therapeutics in the 3rd quarter valued at $32,000. Stone House Investment Management LLC lifted its holdings in shares of Viking Therapeutics by 66.7% during the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Viking Therapeutics by 84.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 253 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Viking Therapeutics

In related news, COO Marianna Mancini sold 54,215 shares of the business’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 $2,317,691.25. Following the transaction, the chief operating officer now owns 374,134 shares in the company, valued at $15,994,228.50. The trade was a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawson Macartney sold 2,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $68.67, for a total transaction of $137,340.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,014 shares of company stock worth $12,920,189. 4.70% of the stock is currently owned by company insiders.

Viking Therapeutics Stock Performance

VKTX stock opened at $33.43 on Thursday. The firm’s 50-day moving average price is $42.93 and its two-hundred day moving average price is $54.89. Viking Therapeutics, Inc. has a 12-month low of $22.51 and a 12-month high of $99.41.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VKTX. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. B. Riley began coverage on shares of Viking Therapeutics in a report on Friday, November 22nd. They set a “buy” rating and a $109.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a report on Friday, January 17th. Finally, Piper Sandler initiated coverage on shares of Viking Therapeutics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $74.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $106.75.

About Viking Therapeutics

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.