BNP Paribas Financial Markets Increases Position in Viking Therapeutics, Inc. $VKTX

BNP Paribas Financial Markets lifted its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 536.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 992,695 shares of the biotechnology company’s stock after purchasing an additional 836,686 shares during the period. BNP Paribas Financial Markets owned about 0.88% of Viking Therapeutics worth $34,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC increased its stake in shares of 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 in the last quarter. Royal Fund Management LLC purchased a new position in Viking Therapeutics during the fourth quarter valued at $1,518,000. Rafferty Asset Management LLC grew its stake in Viking Therapeutics by 26.6% during the third quarter. Rafferty Asset Management LLC now owns 199,387 shares of the biotechnology company’s stock valued at $5,240,000 after acquiring an additional 41,888 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Viking Therapeutics during the third quarter valued at $9,621,000. Finally, WINTON GROUP Ltd purchased a new position in Viking Therapeutics during the third quarter valued at $1,805,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viking Therapeutics

In other Viking Therapeutics news, insider Neil William Aubuchon acquired 4,475 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average cost of $33.50 per share, with a total value of $149,912.50. Following the purchase, the insider directly owned 4,475 shares of the company’s stock, valued at approximately $149,912.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VKTX. Lake Street Capital began coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 target price for the company. Wolfe Research began coverage on shares of Viking Therapeutics in a research note on Thursday, March 26th. They set a “peer perform” rating for the company. Truist Financial began coverage on shares of Viking Therapeutics in a research note on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price for the company. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Viking Therapeutics has an average rating of “Moderate Buy” and an average price target of $93.60.

Viking Therapeutics Stock Up 0.1%

Shares of NASDAQ:VKTX opened at $29.33 on Thursday. Viking Therapeutics, Inc. has a 52 week low of $22.96 and a 52 week high of $43.15. The stock has a market capitalization of $3.41 billion, a P/E ratio of -7.08 and a beta of 0.69. The firm has a fifty day simple moving average of $32.42 and a two-hundred day simple moving average of $33.23.

Viking Therapeutics (NASDAQ:VKTX) last issued 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 period last year, the firm earned ($0.41) EPS. On average, analysts expect that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current year.

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.