Viking Therapeutics, Inc. $VKTX Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB boosted its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 154.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 216,288 shares of the biotechnology company’s stock after acquiring an additional 131,288 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Viking Therapeutics were worth $5,684,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VKTX. CNB Bank increased its holdings in Viking Therapeutics by 5.1% in the third quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 279 shares during the last quarter. Allworth Financial LP lifted its holdings in Viking Therapeutics by 58.4% during the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock worth $25,000 after buying an additional 352 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in Viking Therapeutics by 6.1% during the 2nd quarter. Montag A & Associates Inc. now owns 6,220 shares of the biotechnology company’s stock worth $165,000 after buying an additional 358 shares during the last quarter. E Fund Management Co. Ltd. boosted its position in shares of Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock worth $466,000 after acquiring an additional 406 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Viking Therapeutics by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 31,547 shares of the biotechnology company’s stock worth $829,000 after acquiring an additional 416 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Stock Up 4.7%

NASDAQ VKTX opened at $32.98 on Friday. The firm has a market cap of $3.81 billion, a P/E ratio of -10.37 and a beta of 0.75. Viking Therapeutics, Inc. has a 52-week low of $18.92 and a 52-week high of $43.15. The business’s 50-day moving average price is $31.85 and its 200 day moving average price is $32.18.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the prior year, the firm posted ($0.32) earnings per share. As a group, analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In related news, CFO Greg Zante sold 57,661 shares of Viking Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the transaction, the chief financial officer directly owned 189,891 shares in the company, valued at $6,247,413.90. This trade represents a 23.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Lian sold 233,409 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the transaction, the chief executive officer directly owned 2,499,291 shares in the company, valued at $82,376,631.36. This represents a 8.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 364,731 shares of company stock valued at $12,053,627. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Viking Therapeutics from $106.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Morgan Stanley reissued an “overweight” rating and set a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. Finally, BTIG Research upgraded shares of Viking Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.80.

Viking Therapeutics Company 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.