Granahan Investment Management LLC Purchases 46,057 Shares of Viking Therapeutics, Inc. $VKTX

Granahan Investment Management LLC lifted its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 24.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 235,586 shares of the biotechnology company’s stock after acquiring an additional 46,057 shares during the quarter. Granahan Investment Management LLC’s holdings in Viking Therapeutics were worth $8,288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VKTX. BNP Paribas Financial Markets grew its position in shares of Viking Therapeutics by 536.3% during the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after buying an additional 836,686 shares in the last quarter. Two Sigma Investments LP grew its position 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 buying an additional 771,704 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Viking Therapeutics by 41.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock worth $55,000,000 after buying an additional 616,526 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Viking Therapeutics by 6,315.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after buying an additional 587,350 shares in the last quarter. Finally, Duquesne Family Office LLC bought a new position in shares of Viking Therapeutics during the 2nd quarter worth $14,556,000. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX opened at $29.65 on Wednesday. The stock has a market capitalization of $3.44 billion, a P/E ratio of -7.16 and a beta of 0.69. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The business has a fifty day moving average price of $31.70 and a 200 day moving average price of $32.77.

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

Analyst Ratings Changes

VKTX has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Monday, April 20th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Truist Financial began coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective for the company. BTIG Research restated a “buy” rating and set a $125.00 price objective on shares of Viking Therapeutics in a research note on Friday, May 1st. Finally, Cantor Fitzgerald decreased their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.60.

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.