Timothy G. Youngquist 2020 Irrevocable Trust Grows Position in Viking Therapeutics, Inc. $VKTX

Timothy G. Youngquist 2020 Irrevocable Trust lifted its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 141.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,849 shares of the biotechnology company’s stock after purchasing an additional 159,349 shares during the quarter. Viking Therapeutics accounts for 2.1% of Timothy G. Youngquist 2020 Irrevocable Trust’s portfolio, making the stock its 7th largest position. Timothy G. Youngquist 2020 Irrevocable Trust’s holdings in Viking Therapeutics were worth $10,605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ballast Advisors LLC acquired a new stake in Viking Therapeutics during the first quarter worth $33,000. Quattro Advisors LLC acquired a new position in shares of Viking Therapeutics in the 4th quarter valued at $37,000. Fifth Third Bancorp lifted its holdings in shares of Viking Therapeutics by 169.2% during the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Viking Therapeutics by 250.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the biotechnology company’s stock worth $49,000 after acquiring 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 valued at about $50,000. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Trading Down 0.8%

Shares of Viking Therapeutics stock opened at $33.37 on Wednesday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -7.16 and a beta of 0.69. The firm’s 50-day moving average price is $34.91 and its two-hundred day moving average price is $33.05. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Truist Financial began coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Friday, July 17th. Morgan Stanley set a $95.00 price objective on Viking Therapeutics in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their target price on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Insider Transactions at Viking Therapeutics

In related news, CFO Greg Zante sold 21,217 shares of Viking Therapeutics stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $710,132.99. Following the completion of the transaction, the chief financial officer directly owned 212,204 shares of the company’s stock, valued at $7,102,467.88. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of Viking Therapeutics 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 of the company’s stock, valued at $85,713,734.12. This represents a 5.46% 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. Over the last quarter, insiders have sold 187,951 shares of company stock worth $6,268,442. Insiders own 5.30% of the company’s stock.

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.