Royal Fund Management LLC Invests $1.52 Million in Viking Therapeutics, Inc. $VKTX

Royal Fund Management LLC purchased a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,152 shares of the biotechnology company’s stock, valued at approximately $1,518,000.

Several other large investors have also recently modified their holdings of the stock. Jump Financial LLC purchased a new position in shares of Viking Therapeutics during the second quarter valued at approximately $12,201,000. Norges Bank purchased a new stake in Viking Therapeutics in the second quarter worth approximately $46,846,000. RFG Advisory LLC boosted its holdings in Viking Therapeutics by 84.8% in the third quarter. RFG Advisory LLC now owns 120,214 shares of the biotechnology company’s stock worth $3,159,000 after purchasing an additional 55,175 shares during the last quarter. Marex Group plc bought a new stake in Viking Therapeutics in the 2nd quarter worth approximately $983,000. Finally, Rafferty Asset Management LLC grew its position in Viking Therapeutics by 26.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 199,387 shares of the biotechnology company’s stock worth $5,240,000 after purchasing an additional 41,888 shares during the period. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VKTX. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $99.00 price objective on shares of Viking Therapeutics in a report on Thursday, February 12th. HC Wainwright reiterated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Monday, March 23rd. BTIG Research raised Viking Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Finally, Wolfe Research assumed coverage on Viking Therapeutics in a research report on Thursday, March 26th. They issued a “peer perform” rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Viking Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Insider Activity at Viking Therapeutics

In related news, insider Neil William Aubuchon purchased 4,475 shares of Viking Therapeutics stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $33.50 per share, for a total transaction of $149,912.50. Following the completion of the transaction, the insider directly owned 4,475 shares in the company, valued at $149,912.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 57,661 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.98, for a total value of $1,901,659.78. Following the completion of the transaction, the chief operating officer directly owned 409,190 shares in the company, valued at $13,495,086.20. This trade represents a 12.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 364,731 shares of company stock valued at $12,053,627 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Viking Therapeutics Trading Up 8.8%

VKTX opened at $32.54 on Wednesday. Viking Therapeutics, Inc. has a 1-year low of $18.92 and a 1-year high of $43.15. The company has a market capitalization of $3.76 billion, a PE ratio of -10.23 and a beta of 0.75. The firm’s 50 day simple moving average is $31.95 and its two-hundred day simple moving average is $33.12.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same quarter in the previous year, the company earned ($0.32) EPS. Equities analysts forecast that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

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.