4,560 Shares in Viking Therapeutics, Inc. (NASDAQ:VKTX) Bought by Platform Technology Partners

Platform Technology Partners acquired a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,560 shares of the biotechnology company’s stock, valued at approximately $289,000.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in Viking Therapeutics during the first quarter worth about $369,000. Swiss National Bank boosted its position in shares of Viking Therapeutics by 0.6% in the 1st quarter. Swiss National Bank now owns 168,600 shares of the biotechnology company’s stock worth $13,825,000 after purchasing an additional 1,000 shares in the last quarter. Sei Investments Co. grew its stake in shares of Viking Therapeutics by 77.7% in the 1st quarter. Sei Investments Co. now owns 45,809 shares of the biotechnology company’s stock worth $3,756,000 after buying an additional 20,023 shares during the last quarter. Russell Investments Group Ltd. increased its position in Viking Therapeutics by 34.4% during the 1st quarter. Russell Investments Group Ltd. now owns 344,825 shares of the biotechnology company’s stock valued at $28,276,000 after buying an additional 88,192 shares in the last quarter. Finally, US Bancorp DE raised its stake in Viking Therapeutics by 195.9% during the first quarter. US Bancorp DE now owns 6,942 shares of the biotechnology company’s stock valued at $569,000 after buying an additional 4,596 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Wall Street Analyst Weigh In

VKTX has been the topic of a number of recent research reports. JPMorgan Chase & Co. began coverage on Viking Therapeutics in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 target price on the stock. StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. Morgan Stanley reiterated an “overweight” rating and issued a $105.00 target price on shares of Viking Therapeutics in a research note on Thursday, September 12th. Oppenheimer reissued an “outperform” rating and set a $138.00 price target on shares of Viking Therapeutics in a research report on Wednesday, September 25th. Finally, Raymond James upped their price objective on Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.80.

Insider Buying and Selling

In other Viking Therapeutics news, Director J Matthew Singleton sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $62.22, for a total transaction of $995,520.00. Following the completion of the sale, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $591,090. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director J Matthew Singleton sold 16,000 shares of Viking Therapeutics stock in a transaction on Monday, August 19th. The stock was sold at an average price of $62.22, for a total transaction of $995,520.00. Following the transaction, the director now directly owns 9,500 shares in the company, valued at approximately $591,090. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.89, for a total value of $889,790.00. Following the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $768,455. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 506,687 shares of company stock valued at $36,029,679. 4.70% of the stock is owned by insiders.

Viking Therapeutics Price Performance

NASDAQ VKTX opened at $60.60 on Wednesday. Viking Therapeutics, Inc. has a 1-year low of $9.49 and a 1-year high of $99.41. The business’s fifty day moving average price is $64.79 and its 200-day moving average price is $61.71.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. During the same period in the prior year, the company posted ($0.23) earnings per share. Research analysts anticipate that Viking Therapeutics, Inc. will post -0.98 EPS for the current fiscal year.

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.