Viking Therapeutics, Inc. $VKTX Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB increased its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 154.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,288 shares of the biotechnology company’s stock after buying an additional 131,288 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.19% of Viking Therapeutics worth $5,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VKTX. Allworth Financial LP raised its holdings in shares of Viking Therapeutics by 58.4% during the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 352 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Viking Therapeutics during the second quarter worth about $29,000. Golden State Wealth Management LLC purchased a new position in Viking Therapeutics during the third quarter worth about $30,000. Aster Capital Management DIFC Ltd purchased a new position in Viking Therapeutics during the third quarter worth about $38,000. Finally, Avion Wealth boosted its holdings in Viking Therapeutics by 1,157.0% in the 3rd quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Analysts Set New Price Targets

VKTX has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating and issued a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Canaccord Genuity Group raised their target price on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Stock Up 4.7%

VKTX opened at $32.98 on Friday. Viking Therapeutics, Inc. has a 52 week low of $18.92 and a 52 week high of $43.15. The business has a fifty day simple moving average of $31.85 and a 200-day simple moving average of $32.18. The firm has a market cap of $3.81 billion, a P/E ratio of -10.37 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Sell-side analysts expect that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In related news, Director Matthew W. Foehr sold 16,000 shares of Viking Therapeutics stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $35.11, for a total value of $561,760.00. Following the completion of the transaction, the director owned 132,036 shares in the company, valued at approximately $4,635,783.96. The trade was a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 57,661 shares of the stock in a transaction that occurred 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 sale, the chief operating officer owned 409,190 shares in the company, valued at approximately $13,495,086.20. This trade represents a 12.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 364,731 shares of company stock valued at $12,053,627. 4.10% of the stock is owned by insiders.

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.