Parallel Advisors LLC Has $48,000 Holdings in Viking Therapeutics, Inc. $VKTX

Parallel Advisors LLC increased its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 33.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,818 shares of the biotechnology company’s stock after purchasing an additional 455 shares during the quarter. Parallel Advisors LLC’s holdings in Viking Therapeutics were worth $48,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of Viking Therapeutics by 1,621.4% in the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 1,135 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Viking Therapeutics by 222,100.0% in the 1st quarter. NBC Securities Inc. now owns 2,222 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 2,221 shares during the last quarter. JNBA Financial Advisors acquired a new stake in shares of Viking Therapeutics in the 1st quarter valued at approximately $56,000. Flaharty Asset Management LLC acquired a new stake in shares of Viking Therapeutics in the 1st quarter valued at approximately $56,000. Finally, Future Financial Wealth Managment LLC lifted its holdings in Viking Therapeutics by 1,242.9% during the 1st quarter. Future Financial Wealth Managment LLC now owns 2,350 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 2,175 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Price Performance

VKTX stock opened at $25.57 on Friday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -16.71 and a beta of 0.73. The business’s fifty day moving average price is $29.86 and its two-hundred day moving average price is $28.01. Viking Therapeutics, Inc. has a fifty-two week low of $18.92 and a fifty-two week high of $81.73.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, July 23rd. The biotechnology company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.14). During the same period in the previous year, the company posted ($0.20) earnings per share. The business’s revenue was up NaN% compared to the same quarter last year. Research analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brian Lian sold 26,889 shares of the firm’s 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 transaction, the chief executive officer owned 2,388,014 shares in the company, valued at approximately $66,386,789.20. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Marianna Mancini sold 4,266 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $27.77, for a total value of $118,466.82. Following the completion of the transaction, the chief operating officer owned 377,535 shares in the company, valued at $10,484,146.95. The trade was a 1.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,421 shares of company stock worth $984,405. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

VKTX has been the subject of several research reports. Raymond James Financial cut their price target on Viking Therapeutics from $125.00 to $122.00 and set a “strong-buy” rating for the company in a report on Thursday, July 24th. 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. BTIG Research reaffirmed a “buy” rating and set a $125.00 price target on shares of Viking Therapeutics in a report on Monday, September 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $86.42.

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.