Granahan Investment Management LLC Boosts Position in Viking Therapeutics, Inc. $VKTX

Granahan Investment Management LLC boosted its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 41.0% during the first quarter, Holdings Channel.com reports. The fund owned 332,192 shares of the biotechnology company’s stock after acquiring an additional 96,606 shares during the period. Granahan Investment Management LLC’s holdings in Viking Therapeutics were worth $10,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of VKTX. Raleigh Capital Management Inc. increased its stake in shares of Viking Therapeutics by 58.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 347 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in Viking Therapeutics by 2.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock valued at $466,000 after buying an additional 406 shares in the last quarter. Prospera Financial Services Inc lifted its stake in Viking Therapeutics by 5.1% in the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 455 shares in the last quarter. Assetmark Inc. grew its holdings in Viking Therapeutics by 13.6% during the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 462 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Viking Therapeutics by 29.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Stock Down 1.7%

Shares of Viking Therapeutics stock opened at $34.79 on Friday. Viking Therapeutics, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $43.15. The business’s fifty day moving average is $33.79 and its two-hundred day moving average is $32.92. The firm has a market cap of $4.04 billion, a PE ratio of -8.40 and a beta of 0.66.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter last year, the firm earned ($0.41) earnings per share. Equities research analysts anticipate that Viking Therapeutics, Inc. will post -4.7 EPS for the current year.

Analysts Set New Price Targets

VKTX has been the subject of several recent research reports. Zacks Research downgraded Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Cantor Fitzgerald decreased their price objective on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note 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 price objective for the company. Truist Financial began coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective for the company. Finally, BTIG Research reissued a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

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.