EFG International AG Invests $1 Million in Viking Therapeutics, Inc. $VKTX

EFG International AG acquired a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the second quarter, Holdings Channel reports. The institutional investor acquired 25,658 shares of the biotechnology company’s stock, valued at approximately $1,001,000.

Other large investors also recently bought and sold shares of the company. Ballast Advisors LLC purchased a new position in Viking Therapeutics during the first quarter worth about $33,000. Quattro Advisors LLC acquired a new position in shares of Viking Therapeutics in the fourth quarter worth $37,000. Fifth Third Bancorp grew its position in shares of 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 buying an additional 677 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Viking Therapeutics in the 1st quarter valued at $50,000. Finally, Allworth Financial LP acquired a new stake in Viking Therapeutics in the second quarter valued at $53,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Insider Activity

In related news, COO Marianna Mancini sold 18,217 shares of the firm’s stock in a transaction dated 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 trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.32, for a total value of $4,948,586.44. Following the completion of the transaction, the chief executive officer owned 2,572,441 shares in the company, valued at $85,713,734.12. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 187,951 shares of company stock valued at $6,268,442. Insiders own 5.30% of the company’s stock.

Viking Therapeutics Price Performance

VKTX stock opened at $34.38 on Thursday. The company has a fifty day moving average price of $35.53 and a 200 day moving average price of $33.27. Viking Therapeutics, Inc. has a 12 month low of $22.96 and a 12 month high of $43.15. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -7.38 and a beta of 0.69.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Cantor Fitzgerald dropped their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Lake Street Capital started coverage on Viking Therapeutics in a research report on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock. JPMorgan Chase & Co. reduced 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.62.

Viking Therapeutics 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.