RFG Advisory LLC Boosts Holdings in Viking Therapeutics, Inc. $VKTX

RFG Advisory LLC lifted its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 84.8% in the third quarter, HoldingsChannel reports. The firm owned 120,214 shares of the biotechnology company’s stock after buying an additional 55,175 shares during the quarter. RFG Advisory LLC’s holdings in Viking Therapeutics were worth $3,159,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Viking Therapeutics in the second quarter worth $46,846,000. Ameriprise Financial Inc. increased its position in shares of Viking Therapeutics by 4.1% during the second quarter. Ameriprise Financial Inc. now owns 1,476,314 shares of the biotechnology company’s stock worth $39,122,000 after acquiring an additional 58,191 shares during the period. Raymond James Financial Inc. raised its stake in shares of Viking Therapeutics by 27.0% in the second quarter. Raymond James Financial Inc. now owns 822,278 shares of the biotechnology company’s stock valued at $21,790,000 after acquiring an additional 174,887 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Viking Therapeutics by 52.8% in the second quarter. Frontier Capital Management Co. LLC now owns 638,204 shares of the biotechnology company’s stock valued at $16,912,000 after purchasing an additional 220,396 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Viking Therapeutics by 6,315.6% in the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock valued at $15,811,000 after purchasing an additional 587,350 shares during the period. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Trading Up 3.0%

Shares of Viking Therapeutics stock opened at $29.30 on Tuesday. The company has a fifty day simple moving average of $33.73 and a 200-day simple moving average of $32.69. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -13.82 and a beta of 0.76. Viking Therapeutics, Inc. has a 12-month low of $18.92 and a 12-month high of $43.15.

Analyst Ratings Changes

Several equities research analysts have weighed in on VKTX shares. Cantor Fitzgerald set a $105.00 price target on Viking Therapeutics in a report on Thursday, October 23rd. JPMorgan Chase & Co. lowered their price objective on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Zacks Research cut shares of Viking Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Morgan Stanley lifted their price target on shares of Viking Therapeutics from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Canaccord Genuity Group increased their price objective on shares of Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.36.

Insider Activity at Viking Therapeutics

In related news, CEO Brian Lian sold 233,409 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.96, for a total value of $7,693,160.64. Following the completion of the sale, the chief executive officer directly owned 2,499,291 shares of the company’s stock, valued at $82,376,631.36. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.98, for a total value of $1,901,659.78. Following the transaction, the chief operating officer owned 409,190 shares in the company, valued at $13,495,086.20. This represents a 12.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 364,731 shares of company stock worth $12,053,627. Insiders own 4.10% of the company’s stock.

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.