Odyssean LLC Acquires 50,763 Shares of Viking Therapeutics, Inc. $VKTX

Odyssean LLC grew its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 209.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 74,987 shares of the biotechnology company’s stock after acquiring an additional 50,763 shares during the period. Odyssean LLC’s holdings in Viking Therapeutics were worth $2,925,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VKTX. Timothy G. Youngquist 2020 Irrevocable Trust raised its holdings in shares of Viking Therapeutics by 141.6% during the second quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company’s stock valued at $10,605,000 after acquiring an additional 159,349 shares in the last quarter. Cornerstone Capital Inc. purchased a new position in Viking Therapeutics during the 2nd quarter valued at $3,334,000. BlackRock Inc. purchased a new position in Viking Therapeutics during the 2nd quarter valued at $241,458,000. Dimensional Fund Advisors LP increased its position in Viking Therapeutics by 18.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock valued at $17,653,000 after purchasing an additional 82,941 shares during the period. Finally, Channel Wealth LLC bought a new position in Viking Therapeutics in the 4th quarter worth $2,655,000. 76.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VKTX has been the topic of several research analyst reports. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Truist Financial started 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. Canaccord Genuity Group upped their target price on Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Lake Street Capital assumed coverage on Viking Therapeutics in a research report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.62.

Insiders Place Their Bets

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $710,132.99. Following the sale, the chief financial officer owned 212,204 shares in the company, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following 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. Over the last quarter, insiders have sold 187,951 shares of company stock worth $6,268,442. 5.30% of the stock is currently owned by company insiders.

Viking Therapeutics Price Performance

NASDAQ:VKTX opened at $34.87 on Friday. The firm’s 50-day moving average price is $35.41 and its 200-day moving average price is $33.46. The company has a market capitalization of $4.07 billion, a PE ratio of -7.48 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 issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same quarter in the prior year, the business earned ($0.58) earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that Viking Therapeutics, Inc. will post -4.47 EPS for the current fiscal year.

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.