Wick Capital Partners LLC Invests $3.02 Million in Viking Therapeutics, Inc. $VKTX

Wick Capital Partners LLC purchased a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 85,701 shares of the biotechnology company’s stock, valued at approximately $3,015,000.

Several other hedge funds also recently modified their holdings of the business. Corient Private Wealth LLC raised its stake in Viking Therapeutics by 6.6% during the 4th quarter. Corient Private Wealth LLC now owns 16,978 shares of the biotechnology company’s stock valued at $597,000 after purchasing an additional 1,053 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Viking Therapeutics in the 4th quarter worth $1,242,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Viking Therapeutics during the 4th quarter worth about $235,000. Vident Advisory LLC bought a new position in shares of Viking Therapeutics during the 4th quarter worth about $287,000. Finally, Empowered Funds LLC raised its position in shares of Viking Therapeutics by 7.0% during the fourth quarter. Empowered Funds LLC now owns 10,411 shares of the biotechnology company’s stock valued at $366,000 after buying an additional 683 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Stock Performance

Shares of VKTX stock opened at $30.38 on Friday. Viking Therapeutics, Inc. has a 52-week low of $22.96 and a 52-week high of $43.15. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -7.34 and a beta of 0.69. The firm has a fifty day moving average of $31.56 and a 200-day moving average of $32.68.

Viking Therapeutics (NASDAQ:VKTX) last released 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 prior year, the company earned ($0.41) EPS. On average, sell-side analysts predict that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VKTX. HC Wainwright reiterated a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a research note on Monday, March 23rd. Truist Financial started coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 price target on the stock. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a report on Thursday, April 30th. Lake Street Capital started coverage on Viking Therapeutics in a research report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Wolfe Research assumed coverage on Viking Therapeutics in a report on Thursday, March 26th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

Viking Therapeutics Company 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.