NewEdge Wealth LLC Buys New Shares in Viking Therapeutics, Inc. $VKTX

NewEdge Wealth LLC bought a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 21,856 shares of the biotechnology company’s stock, valued at approximately $711,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VKTX. BNP Paribas Financial Markets lifted its stake in Viking Therapeutics by 536.3% in the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock valued at $34,923,000 after acquiring an additional 836,686 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Viking Therapeutics by 58.7% during the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock worth $54,807,000 after purchasing an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after purchasing an additional 616,526 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Viking Therapeutics by 6,315.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock valued at $15,811,000 after purchasing an additional 587,350 shares during the period. Finally, Artia Global Partners LP lifted its stake in Viking Therapeutics by 392.1% in the 4th quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company’s stock valued at $25,307,000 after purchasing an additional 573,186 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

VKTX has been the subject of a number of research analyst reports. BTIG Research reiterated a “buy” rating and set a $125.00 price target on shares of Viking Therapeutics in a report on Friday, May 1st. Cantor Fitzgerald dropped their price objective on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Lake Street Capital initiated coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. Finally, Truist Financial assumed coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.00.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $34.87 on Tuesday. The company has a market capitalization of $4.05 billion, a P/E ratio of -8.42 and a beta of 0.66. Viking Therapeutics, Inc. has a 1 year low of $22.96 and a 1 year high of $43.15. The business’s 50 day simple moving average is $33.91 and its 200 day simple moving average is $32.94.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same period in the previous year, the company posted ($0.41) earnings per share. On average, sell-side analysts anticipate that Viking Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.

Viking Therapeutics 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.