J. Goldman & Co LP Invests $589,000 in Viking Therapeutics, Inc. $VKTX

J. Goldman & Co LP bought a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,089 shares of the biotechnology company’s stock, valued at approximately $589,000.

Several other hedge funds have also bought and sold shares of the company. Ballast Advisors LLC acquired a new position in Viking Therapeutics during the first quarter worth approximately $33,000. Quattro Advisors LLC acquired a new position in shares of Viking Therapeutics during the 4th quarter worth approximately $37,000. Fifth Third Bancorp increased its holdings in shares of Viking Therapeutics by 169.2% during the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the last quarter. Allworth Financial LP bought a new stake in Viking Therapeutics in the 2nd quarter valued at $53,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Viking Therapeutics during the 2nd quarter valued at $56,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on VKTX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Friday, July 17th. Truist Financial initiated coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price on the stock. Canaccord Genuity Group lifted their price target on Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Lake Street Capital began coverage on Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Viking Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $96.62.

Insider Activity at Viking Therapeutics

In other Viking Therapeutics news, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the transaction, the chief executive officer owned 2,572,441 shares in the company, valued at $85,713,734.12. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of Viking Therapeutics stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $710,132.99. Following the completion of the transaction, the chief financial officer directly owned 212,204 shares of the company’s stock, valued at $7,102,467.88. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 187,951 shares of company stock worth $6,268,442. Company insiders own 5.30% of the company’s stock.

Viking Therapeutics Stock Up 0.6%

NASDAQ VKTX opened at $34.38 on Thursday. The company has a market capitalization of $4.01 billion, a P/E ratio of -7.38 and a beta of 0.69. Viking Therapeutics, Inc. has a 12-month low of $22.96 and a 12-month high of $43.15. The firm has a 50-day moving average price of $35.53 and a two-hundred day moving average price of $33.27.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.11. During the same quarter last year, the business posted ($0.58) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts expect that Viking Therapeutics, Inc. will post -4.47 EPS for the current year.

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.