IHT Wealth Management LLC Makes New $845,000 Investment in Viking Therapeutics, Inc. (NASDAQ:VKTX)

IHT Wealth Management LLC acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,348 shares of the biotechnology company's stock, valued at approximately $845,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VKTX. Signaturefd LLC increased its position in Viking Therapeutics by 16.2% in the 3rd quarter. Signaturefd LLC now owns 1,351 shares of the biotechnology company's stock valued at $86,000 after acquiring an additional 188 shares during the period. Stone House Investment Management LLC grew its stake in shares of Viking Therapeutics by 66.7% in the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Keudell Morrison Wealth Management increased its holdings in shares of Viking Therapeutics by 5.9% in the third quarter. Keudell Morrison Wealth Management now owns 4,306 shares of the biotechnology company's stock valued at $273,000 after purchasing an additional 241 shares during the period. GAMMA Investing LLC raised its stake in shares of Viking Therapeutics by 124.6% during the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 243 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Viking Therapeutics by 84.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Analyst Ratings Changes

VKTX has been the subject of a number of analyst reports. Piper Sandler assumed coverage on shares of Viking Therapeutics in a research report on Monday, December 2nd. They set an "overweight" rating and a $74.00 price objective for the company. Oppenheimer restated an "outperform" rating and issued a $138.00 price objective on shares of Viking Therapeutics in a research report on Wednesday, September 25th. JPMorgan Chase & Co. assumed coverage on Viking Therapeutics in a research report on Wednesday, September 11th. They set an "overweight" rating and a $80.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research note on Tuesday, November 26th. Finally, Morgan Stanley restated an "overweight" rating and issued a $105.00 price target on shares of Viking Therapeutics in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $106.75.

Viking Therapeutics Trading Up 1.8 %

Shares of NASDAQ VKTX traded up $0.92 on Friday, reaching $50.80. 2,673,676 shares of the company traded hands, compared to its average volume of 4,122,823. Viking Therapeutics, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $99.41. The company has a 50 day moving average of $61.21 and a 200 day moving average of $59.00.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02. During the same period last year, the company earned ($0.23) EPS. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In other news, Director J Matthew Singleton sold 10,300 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $69.50, for a total transaction of $715,850.00. Following the transaction, the director now directly owns 9,500 shares of the company's stock, valued at approximately $660,250. The trade was a 52.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawson Macartney sold 2,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the sale, the director now owns 47,965 shares of the company's stock, valued at $3,293,756.55. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,117 shares of company stock worth $27,140,009 in the last three months. 4.70% of the stock is currently owned by company insiders.

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.