Viking Therapeutics, Inc. $VKTX Shares Bought by Wasatch Advisors LP

Wasatch Advisors LP raised its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 89.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 313,158 shares of the biotechnology company’s stock after purchasing an additional 147,752 shares during the quarter. Wasatch Advisors LP’s holdings in Viking Therapeutics were worth $10,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VKTX. Royal Bank of Canada boosted its position in Viking Therapeutics by 13.0% during the first quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after acquiring an additional 39,886 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Viking Therapeutics in the 1st quarter worth approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Viking Therapeutics by 1.4% in 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 worth $11,351,000 after purchasing an additional 6,696 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Viking Therapeutics during the 2nd quarter worth approximately $196,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 worth $56,000 after purchasing an additional 481 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Price Performance

Shares of VKTX opened at $38.04 on Friday. The firm has a 50-day simple moving average of $31.59 and a two-hundred day simple moving average of $32.66. The stock has a market cap of $4.42 billion, a PE ratio of -9.19 and a beta of 0.69. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on VKTX. Wolfe Research started coverage on Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. BTIG Research reaffirmed a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a report on Thursday, April 30th. Cantor Fitzgerald dropped their price objective on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.60.

Viking Therapeutics 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.