Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Sold by Pier Capital LLC

Pier Capital LLC lowered its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,239 shares of the biotechnology company’s stock after selling 2,420 shares during the quarter. Pier Capital LLC owned about 0.05% of Viking Therapeutics worth $3,034,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VKTX. Avoro Capital Advisors LLC acquired a new position in shares of Viking Therapeutics during the first quarter valued at about $294,380,000. Vanguard Group Inc. increased its holdings in shares of Viking Therapeutics by 44.7% during the first quarter. Vanguard Group Inc. now owns 7,785,724 shares of the biotechnology company’s stock valued at $638,429,000 after acquiring an additional 2,403,820 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Viking Therapeutics during the first quarter valued at about $78,586,000. Hood River Capital Management LLC acquired a new position in shares of Viking Therapeutics during the first quarter valued at about $55,098,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Viking Therapeutics during the fourth quarter valued at about $12,341,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Insider Activity

In related news, COO Marianna Mancini sold 18,026 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total value of $1,029,825.38. Following the completion of the transaction, the chief operating officer now directly owns 362,149 shares of the company’s stock, valued at approximately $20,689,572.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director J Matthew Singleton sold 20,786 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.53, for a total value of $1,195,818.58. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $546,535. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Marianna Mancini sold 18,026 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $57.13, for a total value of $1,029,825.38. Following the completion of the transaction, the chief operating officer now directly owns 362,149 shares of the company’s stock, valued at $20,689,572.37. The disclosure for this sale can be found here. Insiders have sold 290,241 shares of company stock worth $17,786,475 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $54.65 on Wednesday. Viking Therapeutics, Inc. has a 1 year low of $8.28 and a 1 year high of $99.41. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -58.76 and a beta of 1.00. The business’s 50 day moving average price is $57.23 and its 200-day moving average price is $63.91.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. During the same period in the previous year, the business posted ($0.19) EPS. On average, sell-side analysts expect that Viking Therapeutics, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

VKTX has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Viking Therapeutics in a report on Thursday, July 25th. Maxim Group reiterated a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a research report on Tuesday, June 4th. Morgan Stanley began coverage on Viking Therapeutics in a research report on Thursday, June 27th. They issued an “overweight” rating and a $105.00 target price on the stock. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a research report on Wednesday, July 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Viking Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $111.78.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.