Eversept Partners LP Invests $7.78 Million in Viking Therapeutics, Inc. $VKTX

Eversept Partners LP acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 239,110 shares of the biotechnology company’s stock, valued at approximately $7,781,000.

A number of other institutional investors have also modified their holdings of VKTX. BNP Paribas Financial Markets increased its position in Viking Therapeutics by 536.3% during the 4th quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after purchasing an additional 836,686 shares in the last quarter. Two Sigma Investments LP lifted its position in Viking Therapeutics by 58.7% during the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after buying an additional 771,704 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Viking Therapeutics by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after buying an additional 616,526 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock valued at $15,811,000 after buying an additional 587,350 shares in the last quarter. Finally, Artia Global Partners LP grew its stake in Viking Therapeutics by 392.1% during the fourth quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company’s stock worth $25,307,000 after buying an additional 573,186 shares during the period. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Wall Street Analyst Weigh In

VKTX has been the subject of several recent research reports. Truist Financial started coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective for the company. Zacks Research lowered shares of Viking Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 30th. Cantor Fitzgerald lowered their price target on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.00.

Viking Therapeutics Stock Performance

Viking Therapeutics stock opened at $34.87 on Tuesday. The firm has a market capitalization of $4.05 billion, a PE ratio of -8.42 and a beta of 0.66. Viking Therapeutics, Inc. has a one year low of $22.96 and a one year high of $43.15. The stock’s 50 day moving average price is $33.91 and its 200 day moving average price is $32.94.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the business earned ($0.41) EPS. On average, analysts forecast that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal 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.