Geode Capital Management LLC Raises Position in Viking Therapeutics, Inc. $VKTX

Geode Capital Management LLC raised its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,994,509 shares of the biotechnology company’s stock after purchasing an additional 385,903 shares during the period. Geode Capital Management LLC owned 1.76% of Viking Therapeutics worth $70,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. raised its position in Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 347 shares during the period. Fifth Third Bancorp raised its position in Viking Therapeutics by 169.3% during 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. Lodestone Wealth Management LLC purchased a new stake in Viking Therapeutics during the fourth quarter valued at approximately $39,000. GAMMA Investing LLC raised its position in Viking Therapeutics by 71.0% during the fourth quarter. GAMMA Investing LLC now owns 1,195 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 496 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in Viking Therapeutics by 250.0% during 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. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Viking Therapeutics Stock Performance

VKTX opened at $29.24 on Tuesday. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -7.06 and a beta of 0.69. The stock’s 50 day moving average price is $32.17 and its 200-day moving average price is $33.03. Viking Therapeutics, Inc. has a one year low of $22.96 and a one year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the previous year, the company earned ($0.41) earnings per share. As a group, analysts predict that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VKTX. Lake Street Capital began coverage on Viking Therapeutics in a research report on Thursday, May 28th. They set a “buy” rating and a $89.00 price objective on the stock. BTIG Research restated a “buy” rating and set a $125.00 price objective on shares of Viking Therapeutics in a research report on Friday, May 1st. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Monday, March 23rd. Cantor Fitzgerald decreased 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 began coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.