Profit Investment Management LLC Has $633,000 Stock Position in Viking Therapeutics, Inc. $VKTX

Profit Investment Management LLC lessened its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 76.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,995 shares of the biotechnology company’s stock after selling 58,559 shares during the quarter. Viking Therapeutics accounts for about 2.6% of Profit Investment Management LLC’s investment portfolio, making the stock its 18th biggest holding. Profit Investment Management LLC’s holdings in Viking Therapeutics were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Viking Therapeutics during the second quarter worth $46,846,000. Two Sigma Investments LP boosted its stake in Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock worth $54,807,000 after purchasing an additional 771,704 shares during the period. Ameriprise Financial Inc. increased its holdings in Viking Therapeutics by 41.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock worth $55,000,000 after purchasing an additional 616,526 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Viking Therapeutics by 6,315.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after purchasing an additional 587,350 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at about $14,556,000. Institutional investors own 76.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VKTX. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Morgan Stanley reissued an “overweight” rating and issued a $99.00 target price on shares of Viking Therapeutics in a research report on Thursday, February 12th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, BTIG Research raised Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Insider Buying and Selling

In other Viking Therapeutics news, insider Neil William Aubuchon bought 4,475 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $33.50 per share, with a total value of $149,912.50. Following the acquisition, the insider owned 4,475 shares of the company’s stock, valued at $149,912.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the sale, the chief financial officer owned 189,891 shares in the company, valued at approximately $6,247,413.90. This trade represents a 23.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 364,731 shares of company stock valued at $12,053,627. Insiders own 4.10% of the company’s stock.

Viking Therapeutics Trading Down 4.7%

Shares of VKTX opened at $32.33 on Friday. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -10.17 and a beta of 0.75. The company’s fifty day simple moving average is $32.01 and its 200 day simple moving average is $32.75. Viking Therapeutics, Inc. has a 1-year low of $18.92 and a 1-year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same quarter in the prior year, the company earned ($0.32) EPS. As a group, research analysts forecast that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

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.