ACT Capital Management LLC Takes $7.25 Million Position in Viking Therapeutics, Inc. $VKTX

ACT Capital Management LLC acquired a new stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 206,100 shares of the biotechnology company’s stock, valued at approximately $7,251,000. Viking Therapeutics makes up about 5.9% of ACT Capital Management LLC’s holdings, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raleigh Capital Management Inc. lifted its position in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after buying an additional 347 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of Viking Therapeutics by 6.4% in the 3rd quarter. Montag A & Associates Inc. now owns 6,620 shares of the biotechnology company’s stock worth $174,000 after buying an additional 400 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of 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 worth $466,000 after buying an additional 406 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of Viking Therapeutics by 5.1% in the 4th quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock worth $329,000 after buying an additional 455 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 481 shares during the period. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Price Performance

NASDAQ VKTX opened at $30.29 on Thursday. The company’s 50 day simple moving average is $31.62 and its 200 day simple moving average is $32.73. Viking Therapeutics, Inc. has a 12 month low of $22.96 and a 12 month high of $43.15. The company has a market capitalization of $3.52 billion, a P/E ratio of -7.32 and a beta of 0.69.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VKTX. Lake Street Capital began coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 price objective on the stock. Truist Financial began coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price target on the stock. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 30th. Cantor Fitzgerald dropped their price target on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, BTIG Research restated a “buy” rating and set a $125.00 price target on shares of Viking Therapeutics in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.60.

Viking Therapeutics Company 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.