Cwm LLC lifted its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) by 36.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,542 shares of the biotechnology company’s stock after acquiring an additional 939 shares during the period. Cwm LLC’s holdings in Viking Therapeutics were worth $86,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in Viking Therapeutics by 0.6% in the 4th quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company’s stock valued at $672,629,000 after purchasing an additional 96,008 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Viking Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company’s stock valued at $75,704,000 after purchasing an additional 17,046 shares during the period. Braidwell LP raised its holdings in shares of Viking Therapeutics by 27.9% during the fourth quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company’s stock valued at $59,542,000 after buying an additional 322,689 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Viking Therapeutics by 228.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company’s stock worth $59,540,000 after buying an additional 1,029,125 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company’s stock worth $54,615,000 after buying an additional 1,108,972 shares in the last quarter. Institutional investors own 76.03% of the company’s stock.
Insider Transactions at Viking Therapeutics
In related news, CEO Brian Lian sold 26,889 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $27.80, for a total value of $747,514.20. Following the completion of the transaction, the chief executive officer owned 2,388,014 shares in the company, valued at $66,386,789.20. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Greg Zante sold 4,266 shares of Viking Therapeutics stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $27.76, for a total value of $118,424.16. Following the completion of the transaction, the chief financial officer directly owned 168,660 shares in the company, valued at $4,682,001.60. This represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,421 shares of company stock valued at $984,405 over the last three months. Company insiders own 4.10% of the company’s stock.
Viking Therapeutics Price Performance
Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.14). The business’s quarterly revenue was up NaN% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) earnings per share. On average, analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts recently commented on VKTX shares. The Goldman Sachs Group started coverage on Viking Therapeutics in a research report on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Citigroup raised their price target on Viking Therapeutics from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Wednesday, June 25th. Morgan Stanley decreased their target price on shares of Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial reissued a “buy” rating and set a $75.00 target price (down previously from $95.00) on shares of Viking Therapeutics in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.92.
Read Our Latest Research Report on VKTX
Viking Therapeutics Company 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.
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