Algert Global LLC Acquires 17,354 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Algert Global LLC grew its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 107.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,544 shares of the biotechnology company’s stock after buying an additional 17,354 shares during the quarter. Algert Global LLC’s holdings in Viking Therapeutics were worth $1,778,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Viking Therapeutics in the 1st quarter worth $25,000. LifeSteps Financial Inc. purchased a new stake in shares of Viking Therapeutics in the 1st quarter worth $37,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Viking Therapeutics in the 2nd quarter worth $27,000. Meeder Asset Management Inc. lifted its holdings in shares of Viking Therapeutics by 140.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 802 shares of the biotechnology company’s stock worth $43,000 after buying an additional 469 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Viking Therapeutics by 123.8% in the 2nd quarter. Quest Partners LLC now owns 1,258 shares of the biotechnology company’s stock worth $67,000 after buying an additional 696 shares during the period. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $64.69 on Thursday. The business’s 50-day moving average is $60.46 and its 200 day moving average is $62.76. Viking Therapeutics, Inc. has a 1 year low of $8.28 and a 1 year high of $99.41. The firm has a market capitalization of $7.13 billion, a P/E ratio of -69.56 and a beta of 1.00.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. During the same period last year, the business earned ($0.19) EPS. On average, analysts expect that Viking Therapeutics, Inc. will post -1 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VKTX. Truist Financial reiterated a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a report on Monday, June 17th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Viking Therapeutics in a research note on Thursday, July 25th. Raymond James upped their price objective on Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Morgan Stanley restated an “overweight” rating and set a $105.00 price objective on shares of Viking Therapeutics in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. began coverage on Viking Therapeutics in a research note on Wednesday, September 11th. They set an “overweight” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.60.

Insider Activity at Viking Therapeutics

In related news, COO Marianna Mancini sold 18,026 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the transaction, the chief operating officer now directly owns 362,149 shares of the company’s stock, valued at approximately $20,689,572.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Brian Lian sold 115,859 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.58, for a total value of $6,671,161.22. Following the transaction, the chief executive officer now directly owns 2,354,927 shares of the company’s stock, valued at $135,596,696.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Marianna Mancini sold 18,026 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $57.13, for a total value of $1,029,825.38. Following the completion of the transaction, the chief operating officer now directly owns 362,149 shares in the company, valued at $20,689,572.37. The disclosure for this sale can be found here. Insiders have sold 516,671 shares of company stock valued at $33,810,813 in the last ninety days. Corporate insiders own 4.70% of the company’s stock.

About Viking Therapeutics

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.