SBI Securities Co. Ltd. Has $621,000 Stock Holdings in Viking Therapeutics, Inc. $VKTX

SBI Securities Co. Ltd. grew its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 732.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,613 shares of the biotechnology company’s stock after acquiring an additional 20,775 shares during the period. SBI Securities Co. Ltd.’s holdings in Viking Therapeutics were worth $621,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Viking Therapeutics by 13.0% in the 1st quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after acquiring an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Viking Therapeutics during the first quarter valued at approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Viking Therapeutics by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after purchasing an additional 6,696 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Viking Therapeutics by 16.2% in the second quarter. Janney Montgomery Scott LLC now owns 45,944 shares of the biotechnology company’s stock valued at $1,218,000 after purchasing an additional 6,415 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Viking Therapeutics by 9.2% in the second quarter. KLP Kapitalforvaltning AS now owns 22,600 shares of the biotechnology company’s stock worth $599,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VKTX shares. Zacks Research lowered shares of Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. B. Riley Financial upgraded shares of Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Morgan Stanley boosted their price objective on Viking Therapeutics from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Canaccord Genuity Group increased their target price on Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Viking Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $89.36.

Insider Buying and Selling at Viking Therapeutics

In other news, Director Matthew W. Foehr sold 16,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $35.11, for a total transaction of $561,760.00. Following the completion of the transaction, the director directly owned 132,036 shares of the company’s stock, valued at approximately $4,635,783.96. This trade represents a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Lian sold 233,409 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the sale, the chief executive officer directly owned 2,499,291 shares in the company, valued at approximately $82,376,631.36. The trade was a 8.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 364,731 shares of company stock worth $12,053,627. Corporate insiders own 4.10% of the company’s stock.

Viking Therapeutics Stock Performance

Shares of VKTX opened at $28.44 on Friday. The company has a 50-day simple moving average of $33.83 and a 200-day simple moving average of $32.73. Viking Therapeutics, Inc. has a 52 week low of $18.92 and a 52 week high of $43.15. The firm has a market capitalization of $3.21 billion, a P/E ratio of -13.42 and a beta of 0.75.

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.