Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Acquired by LPL Financial LLC

LPL Financial LLC grew its position in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 18.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 96,702 shares of the biotechnology company's stock after buying an additional 14,873 shares during the period. LPL Financial LLC owned approximately 0.09% of Viking Therapeutics worth $3,891,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Verition Fund Management LLC increased its holdings in Viking Therapeutics by 80.6% in the 3rd quarter. Verition Fund Management LLC now owns 7,721 shares of the biotechnology company's stock worth $489,000 after acquiring an additional 3,446 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Viking Therapeutics in the 3rd quarter worth about $308,000. Stifel Financial Corp increased its position in shares of Viking Therapeutics by 92.1% during the 3rd quarter. Stifel Financial Corp now owns 131,348 shares of the biotechnology company's stock valued at $8,316,000 after purchasing an additional 62,956 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Viking Therapeutics by 2,265.3% during the 3rd quarter. National Bank of Canada FI now owns 3,548 shares of the biotechnology company's stock worth $225,000 after purchasing an additional 3,398 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Viking Therapeutics in the third quarter worth about $492,000. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VKTX has been the subject of several recent research reports. Maxim Group reduced their price target on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, February 7th. HC Wainwright reissued a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Wednesday, March 26th. The Goldman Sachs Group initiated coverage on shares of Viking Therapeutics in a research note on Tuesday, April 8th. They set a "neutral" rating and a $30.00 target price on the stock. Scotiabank began coverage on shares of Viking Therapeutics in a research report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 target price for the company. Finally, Raymond James raised their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.75.

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Insider Transactions at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan purchased 1,240 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the acquisition, the director now directly owns 1,240 shares of the company's stock, valued at approximately $29,946. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.70% of the company's stock.

Viking Therapeutics Price Performance

Shares of VKTX stock traded up $2.13 during trading hours on Monday, reaching $24.35. 2,642,331 shares of the company's stock were exchanged, compared to its average volume of 3,985,699. The company has a market cap of $2.73 billion, a P/E ratio of -24.33 and a beta of 0.84. Viking Therapeutics, Inc. has a 1 year low of $18.92 and a 1 year high of $81.86. The company's 50 day moving average is $27.71 and its two-hundred day moving average is $43.07.

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

About Viking Therapeutics

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.