Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Viking Therapeutics, Inc. $VKTX

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 32,564 shares of the biotechnology company’s stock, valued at approximately $1,270,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ballast Advisors LLC purchased a new stake in shares of Viking Therapeutics in the first quarter valued at $33,000. Quattro Advisors LLC acquired a new stake in Viking Therapeutics during the 4th quarter worth approximately $37,000. Fifth Third Bancorp increased 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 worth $38,000 after acquiring an additional 677 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Viking Therapeutics by 250.0% in the 4th 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 in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Viking Therapeutics in the first quarter valued at about $50,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Trading Down 1.4%

Shares of NASDAQ VKTX opened at $33.89 on Friday. Viking Therapeutics, Inc. has a twelve month low of $22.96 and a twelve month high of $43.15. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -7.27 and a beta of 0.69. The firm has a 50-day moving average of $35.29 and a two-hundred day moving average of $33.13.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.11. Viking Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.58) EPS. As a group, research analysts predict that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current year.

Insiders Place Their Bets

In other Viking Therapeutics news, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were 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 in the company, valued at $85,713,734.12. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the transaction, the chief operating officer directly owned 422,760 shares of the company’s stock, valued at $14,149,777.20. This represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 187,951 shares of company stock worth $6,268,442 over the last ninety days. 5.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VKTX shares. JPMorgan Chase & Co. lowered their price target on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Cantor Fitzgerald dropped their price target 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. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial started coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 target price on the stock. Finally, Canaccord Genuity Group lifted their price target on Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Viking Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $96.62.

Viking Therapeutics Company Profile

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.