Quantitative Investment Management LLC Invests $1.61 Million in Viking Therapeutics, Inc. $VKTX

Quantitative Investment Management LLC bought a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,416 shares of the biotechnology company’s stock, valued at approximately $1,615,000.

A number of other large investors have also added to or reduced their stakes in VKTX. Timothy G. Youngquist 2020 Irrevocable Trust grew its stake in shares of Viking Therapeutics by 141.6% during the second quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company’s stock valued at $10,605,000 after acquiring an additional 159,349 shares in the last quarter. Cornerstone Capital Inc. acquired a new position in shares of Viking Therapeutics in the second quarter worth about $3,334,000. BlackRock Inc. purchased a new position in Viking Therapeutics in the second quarter valued at about $241,458,000. Dimensional Fund Advisors LP boosted its holdings in Viking Therapeutics by 18.0% in the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock valued at $17,653,000 after purchasing an additional 82,941 shares during the last quarter. Finally, Channel Wealth LLC acquired a new stake in Viking Therapeutics during the 4th quarter valued at approximately $2,655,000. 76.03% of the stock is owned by institutional investors and hedge funds.

Viking Therapeutics Stock Performance

Viking Therapeutics stock opened at $32.78 on Tuesday. The company has a 50-day simple moving average of $35.65 and a 200-day simple moving average of $33.36. The firm has a market capitalization of $3.82 billion, a P/E ratio of -7.03 and a beta of 0.69. Viking Therapeutics, Inc. has a one year low of $22.96 and a one year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.11. During the same period in the prior year, the firm posted ($0.58) EPS. Viking Therapeutics’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Marianna Mancini sold 18,217 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $609,722.99. Following the sale, the chief operating officer owned 422,760 shares of the company’s stock, valued at approximately $14,149,777.20. The trade was a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $710,132.99. Following the completion of the sale, the chief financial officer owned 212,204 shares of the company’s stock, valued at approximately $7,102,467.88. This trade represents a 9.09% decrease in their position. 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 sold 187,951 shares of company stock worth $6,268,442 over the last ninety days. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on VKTX. Truist Financial initiated coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Lake Street Capital assumed coverage on shares of Viking Therapeutics in a research report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.