Sanctuary Advisors LLC Invests $986,000 in Viking Therapeutics, Inc. $VKTX

Sanctuary Advisors LLC bought a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,272 shares of the biotechnology company’s stock, valued at approximately $986,000.

A number of other large investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock worth $8,396,000 after buying an additional 39,886 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Viking Therapeutics during the 1st quarter valued at approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after acquiring an additional 6,696 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Viking Therapeutics in the 2nd quarter valued at $196,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX opened at $33.86 on Friday. The company’s fifty day moving average price is $35.60 and its 200 day moving average price is $33.31. Viking Therapeutics, Inc. has a 1 year low of $22.96 and a 1 year high of $43.15. The company has a market capitalization of $3.95 billion, a PE ratio of -7.27 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.11. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. Viking Therapeutics’s revenue was up .0% on a year-over-year basis. On average, equities analysts expect that Viking Therapeutics, Inc. will post -4.47 EPS for the current year.

Insider Transactions at Viking Therapeutics

In other news, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the sale, the chief executive officer directly owned 2,572,441 shares in the company, valued at $85,713,734.12. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of Viking Therapeutics 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 completion of the transaction, the chief financial officer owned 212,204 shares of the company’s stock, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 187,951 shares of company stock valued at $6,268,442 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial initiated coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price for the company. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Finally, Lake Street Capital assumed coverage on Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.62.

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.