Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 32,564 Viking Therapeutics, Inc. $VKTX

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,564 shares of the biotechnology company’s stock, valued at approximately $1,270,000.

Several other hedge funds have also modified their holdings of the company. Ballast Advisors LLC purchased a new position in Viking Therapeutics during the first quarter worth approximately $33,000. Quattro Advisors LLC acquired a new stake in Viking Therapeutics during the 4th quarter worth $37,000. Fifth Third Bancorp boosted its position in Viking Therapeutics by 169.2% during the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Viking Therapeutics by 250.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Viking Therapeutics during the first quarter worth $50,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Trading Down 1.4%

Shares of VKTX stock opened at $33.89 on Friday. The business’s 50 day moving average is $35.29 and its two-hundred day moving average is $33.13. Viking Therapeutics, Inc. has a twelve month low of $22.96 and a twelve month high of $43.15. The company has a market capitalization of $3.95 billion, a P/E ratio of -7.27 and a beta of 0.69.

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

Insider Buying and Selling

In related news, COO Marianna Mancini sold 18,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the transaction, the chief operating officer owned 422,760 shares of the company’s stock, valued at $14,149,777.20. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. This trade represents a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 187,951 shares of company stock valued at $6,268,442 over the last quarter. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their target price on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald lowered their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Canaccord Genuity Group upped their target price on shares of Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Viking Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.

About Viking Therapeutics

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.