UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 23,921 Shares of Viking Therapeutics, Inc. $VKTX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,973 shares of the biotechnology company’s stock after selling 23,921 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Viking Therapeutics worth $8,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VKTX. Ballast Advisors LLC acquired a new position in Viking Therapeutics during the first quarter worth about $33,000. Quattro Advisors LLC acquired a new stake in shares of Viking Therapeutics in the 4th quarter valued at approximately $37,000. Fifth Third Bancorp grew 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 valued at $38,000 after purchasing an additional 677 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Viking Therapeutics during the 1st quarter valued at approximately $50,000. Finally, Allworth Financial LP acquired a new position in Viking Therapeutics during the 2nd quarter worth approximately $53,000. Institutional investors own 76.03% of the company’s stock.

Insider Buying and Selling

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of Viking Therapeutics stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer directly owned 212,204 shares of the company’s stock, valued at approximately $7,102,467.88. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of Viking Therapeutics stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total value of $4,948,586.44. Following the transaction, the chief executive officer directly owned 2,572,441 shares in the company, valued at $85,713,734.12. The trade was a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 187,951 shares of company stock valued at $6,268,442 in the last three months. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

VKTX has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their target price on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Lake Street Capital assumed coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Truist Financial began coverage on Viking Therapeutics in a report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.62.

Viking Therapeutics Price Performance

NASDAQ:VKTX opened at $34.87 on Tuesday. Viking Therapeutics, Inc. has a one year low of $22.96 and a one year high of $43.15. The company has a market cap of $4.07 billion, a PE ratio of -7.48 and a beta of 0.69. The firm’s 50 day simple moving average is $35.32 and its 200 day simple moving average is $33.52.

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

About Viking Therapeutics

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.