AGF Management Ltd. Boosts Stake in Viking Therapeutics, Inc. (NASDAQ:VKTX)

AGF Management Ltd. lifted its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 50.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,263 shares of the biotechnology company's stock after purchasing an additional 54,814 shares during the period. AGF Management Ltd. owned 0.15% of Viking Therapeutics worth $6,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Independent Advisor Alliance boosted its holdings in Viking Therapeutics by 37.4% in the 4th quarter. Independent Advisor Alliance now owns 6,940 shares of the biotechnology company's stock worth $279,000 after buying an additional 1,890 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Viking Therapeutics by 17.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,835 shares of the biotechnology company's stock worth $1,080,000 after buying an additional 4,012 shares during the period. AlphaQuest LLC boosted its holdings in Viking Therapeutics by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,938 shares of the biotechnology company's stock worth $78,000 after buying an additional 858 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Viking Therapeutics by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,980 shares of the biotechnology company's stock worth $221,000 after buying an additional 345 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in Viking Therapeutics by 18.4% in the 4th quarter. E Fund Management Co. Ltd. now owns 19,272 shares of the biotechnology company's stock worth $776,000 after buying an additional 2,992 shares during the period. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Viking Therapeutics Trading Up 11.4 %

Shares of NASDAQ:VKTX opened at $29.55 on Thursday. Viking Therapeutics, Inc. has a 12 month low of $24.41 and a 12 month high of $89.10. The company has a 50-day moving average price of $32.66 and a 200 day moving average price of $49.20. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -29.55 and a beta of 0.90.

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Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, equities analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Activity at Viking Therapeutics

In related news, CFO Greg Zante sold 50,309 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,150,709.75. Following the sale, the chief financial officer now directly owns 165,259 shares of the company's stock, valued at $7,064,822.25. This represents a 23.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Marianna Mancini sold 54,215 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the completion of the sale, the chief operating officer now directly owns 374,134 shares in the company, valued at $15,994,228.50. This trade represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,014 shares of company stock valued at $12,782,849. Insiders own 4.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on VKTX shares. William Blair reaffirmed an "outperform" rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Raymond James upped their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a report on Thursday, February 6th. Piper Sandler dropped their target price on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. HC Wainwright reissued a "buy" rating and set a $102.00 price objective on shares of Viking Therapeutics in a report on Tuesday. Finally, Citigroup assumed coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They set a "neutral" rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $96.31.

Viking Therapeutics Profile

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.

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