Viking Therapeutics, Inc. $VKTX Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,002 shares of the biotechnology company’s stock after selling 51,064 shares during the period. Principal Financial Group Inc.’s holdings in Viking Therapeutics were worth $13,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VKTX. Allworth Financial LP increased its position in Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 352 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new stake in shares of Viking Therapeutics in the 2nd quarter valued at approximately $28,000. Elevation Point Wealth Partners LLC acquired a new position in Viking Therapeutics in the second quarter worth approximately $29,000. Golden State Wealth Management LLC acquired a new position in Viking Therapeutics in the third quarter worth approximately $30,000. Finally, Avion Wealth raised its position in Viking Therapeutics by 1,157.0% during the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the sale, the chief financial officer owned 189,891 shares in the company, valued at approximately $6,247,413.90. This trade represents a 23.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 57,661 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the transaction, the chief operating officer directly owned 409,190 shares in the company, valued at $13,495,086.20. This trade represents a 12.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 364,731 shares of company stock valued at $12,053,627. Corporate insiders own 4.10% of the company’s stock.

Viking Therapeutics Stock Performance

Viking Therapeutics stock opened at $28.75 on Wednesday. Viking Therapeutics, Inc. has a 52 week low of $18.92 and a 52 week high of $43.15. The firm has a market capitalization of $3.25 billion, a PE ratio of -13.56 and a beta of 0.75. The business’s 50-day simple moving average is $33.62 and its 200-day simple moving average is $32.65.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. B. Riley Financial upgraded shares of Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, October 23rd. Cantor Fitzgerald set a $105.00 price objective on shares of Viking Therapeutics in a report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price target 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. Finally, Canaccord Genuity Group upped their price target on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Viking Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $89.36.

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.