SG Americas Securities LLC Buys 12,869 Shares of Viking Therapeutics, Inc. $VKTX

SG Americas Securities LLC increased its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 18.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 82,482 shares of the biotechnology company’s stock after purchasing an additional 12,869 shares during the quarter. SG Americas Securities LLC owned 0.07% of Viking Therapeutics worth $2,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Fund Management LLC purchased a new stake in shares of Viking Therapeutics in the fourth quarter valued at $1,518,000. Rafferty Asset Management LLC lifted its holdings in shares of Viking Therapeutics by 26.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 199,387 shares of the biotechnology company’s stock worth $5,240,000 after acquiring an additional 41,888 shares during the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Viking Therapeutics during the 3rd quarter worth about $9,621,000. WINTON GROUP Ltd purchased a new position in shares of Viking Therapeutics during the 3rd quarter worth about $1,805,000. Finally, Meadowbrook Wealth Management LLC bought a new position in Viking Therapeutics during the 4th quarter valued at about $1,309,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Trading Down 1.3%

NASDAQ VKTX opened at $39.01 on Wednesday. The stock has a market cap of $4.53 billion, a PE ratio of -9.42 and a beta of 0.69. Viking Therapeutics, Inc. has a 12 month low of $22.96 and a 12 month high of $43.15. The company’s 50-day moving average price is $31.75 and its 200-day moving average price is $32.65.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the prior year, the company posted ($0.41) EPS. As a group, sell-side analysts forecast that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current year.

Wall Street Analyst Weigh In

VKTX has been the topic of a number of recent analyst reports. Morgan Stanley set a $95.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 30th. Cantor Fitzgerald dropped their target price on Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Lake Street Capital began coverage on Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock. Truist Financial initiated coverage on Viking Therapeutics in a report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target on the stock. Finally, Wolfe Research assumed coverage on Viking Therapeutics in a research note on Thursday, March 26th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average 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.