Granahan Investment Management LLC Grows Stock Position in Viking Therapeutics, Inc. $VKTX

Granahan Investment Management LLC boosted its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 24.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 235,586 shares of the biotechnology company’s stock after buying an additional 46,057 shares during the period. Granahan Investment Management LLC owned approximately 0.20% of Viking Therapeutics worth $8,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VKTX. Royal Bank of Canada raised its holdings in Viking Therapeutics by 13.0% during the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after buying an additional 39,886 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Viking Therapeutics during the 1st quarter valued at $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after buying an additional 6,696 shares during the period. Prudential Financial Inc. purchased a new stake in Viking Therapeutics during the 2nd quarter valued at $196,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Viking Therapeutics by 29.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 481 shares during the period. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Stock Up 0.1%

Shares of Viking Therapeutics stock opened at $29.65 on Wednesday. The stock’s fifty day moving average is $31.70 and its two-hundred day moving average is $32.77. The company has a market capitalization of $3.44 billion, a PE ratio of -7.16 and a beta of 0.69. Viking Therapeutics, Inc. has a 52 week low of $22.96 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the company earned ($0.41) earnings per share. As a group, research analysts anticipate that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current year.

Wall Street Analyst Weigh In

VKTX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Monday, April 20th. Lake Street Capital initiated coverage on Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target on the stock. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a report on Thursday, April 30th. Cantor Fitzgerald cut their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Truist Financial assumed coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

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.