Cornerstone Capital Inc. Takes $3.33 Million Position in Viking Therapeutics, Inc. $VKTX

Cornerstone Capital Inc. acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 85,470 shares of the biotechnology company’s stock, valued at approximately $3,334,000. Cornerstone Capital Inc. owned 0.07% of Viking Therapeutics as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ballast Advisors LLC acquired a new stake in Viking Therapeutics during the 1st quarter valued at $33,000. Quattro Advisors LLC acquired a new position in shares of Viking Therapeutics in the fourth quarter valued at $37,000. Fifth Third Bancorp raised its position in shares of Viking Therapeutics by 169.2% in the fourth 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 period. TD Waterhouse Canada Inc. raised its position in shares of Viking Therapeutics by 250.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,000 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Viking Therapeutics during the 1st quarter worth about $50,000. Institutional investors own 76.03% of the company’s stock.

Analyst Ratings Changes

VKTX has been the subject of several research analyst reports. Truist Financial assumed coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday. Cantor Fitzgerald reduced their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday, July 17th. Finally, Lake Street Capital started coverage on Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Viking Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.

Insiders Place Their Bets

In other Viking Therapeutics news, CEO Brian Lian sold 148,517 shares of Viking Therapeutics stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 2,572,441 shares of the company’s stock, valued at $85,713,734.12. The trade was a 5.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $609,722.99. Following the sale, the chief operating officer owned 422,760 shares of the company’s stock, valued at approximately $14,149,777.20. The trade was a 4.13% 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 have sold a total of 187,951 shares of company stock worth $6,268,442 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Viking Therapeutics Stock Up 0.8%

Shares of NASDAQ:VKTX opened at $33.19 on Friday. The company’s 50 day moving average price is $34.74 and its two-hundred day moving average price is $33.00. Viking Therapeutics, Inc. has a 12-month low of $22.96 and a 12-month high of $43.15. The firm has a market cap of $3.87 billion, a PE ratio of -7.12 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.11. Viking Therapeutics’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned ($0.58) earnings per share. On average, 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.