Formidable Asset Management LLC Buys 21,625 Shares of Viking Therapeutics, Inc. $VKTX

Formidable Asset Management LLC lifted its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 44.8% in the fourth quarter, Holdings Channel reports. The firm owned 69,885 shares of the biotechnology company’s stock after buying an additional 21,625 shares during the period. Formidable Asset Management LLC’s holdings in Viking Therapeutics were worth $2,459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Pictet & Cie SA increased its holdings in Viking Therapeutics by 281.7% during the 4th quarter. Banque Pictet & Cie SA now owns 35,026 shares of the biotechnology company’s stock worth $1,232,000 after purchasing an additional 25,849 shares during the period. Tema Etfs LLC purchased a new stake in shares of Viking Therapeutics in the 4th quarter worth $494,000. Lodestone Wealth Management LLC bought a new position in shares of Viking Therapeutics during the 4th quarter worth $39,000. Royal Fund Management LLC bought a new position in shares of Viking Therapeutics during the 4th quarter worth $1,518,000. Finally, Lewis Asset Management LLC increased its stake in shares of Viking Therapeutics by 10.7% during the fourth quarter. Lewis Asset Management LLC now owns 61,890 shares of the biotechnology company’s stock valued at $2,177,000 after buying an additional 5,960 shares during the period. Institutional investors own 76.03% of the company’s stock.

Insider Activity

In related news, COO Marianna Mancini sold 57,661 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the completion of the transaction, the chief operating officer owned 409,190 shares in the company, valued at $13,495,086.20. The trade was a 12.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 purchased at an average cost of $33.50 per share, with a total value of $149,912.50. Following the transaction, the insider directly 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 disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 348,731 shares of company stock worth $11,491,867. Insiders own 4.10% of the company’s stock.

Viking Therapeutics Price Performance

Shares of VKTX stock opened at $34.80 on Friday. The company has a market cap of $4.02 billion, a P/E ratio of -10.94 and a beta of 0.83. The stock’s 50-day moving average is $31.96 and its 200 day moving average is $33.13. Viking Therapeutics, Inc. has a 1-year low of $18.92 and a 1-year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter last year, the firm earned ($0.32) EPS. On average, analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Viking Therapeutics in a research note on Thursday, March 26th. They issued a “peer perform” rating for the company. HC Wainwright reissued a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Monday, March 23rd. BTIG Research raised shares of Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.80.

Viking Therapeutics Company 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.