Rockefeller Capital Management L.P. Raises Stock Holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Rockefeller Capital Management L.P. increased its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 109.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,023 shares of the biotechnology company’s stock after purchasing an additional 17,754 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Viking Therapeutics were worth $2,154,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in shares of Viking Therapeutics during the 3rd quarter worth $26,000. GAMMA Investing LLC lifted its stake in shares of Viking Therapeutics by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 243 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Viking Therapeutics during the 3rd quarter worth $32,000. Stone House Investment Management LLC lifted its stake in shares of Viking Therapeutics by 66.7% during the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Viking Therapeutics by 84.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 253 shares during the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Viking Therapeutics Stock Up 1.8 %

Viking Therapeutics stock opened at $50.80 on Friday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -54.62 and a beta of 0.88. Viking Therapeutics, Inc. has a 52 week low of $16.70 and a 52 week high of $99.41. The business’s 50-day moving average price is $61.21 and its 200 day moving average price is $59.00.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same period last year, the business earned ($0.23) EPS. Equities analysts expect that Viking Therapeutics, Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling

In other Viking Therapeutics news, Director J Matthew Singleton sold 10,300 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $69.50, for a total value of $715,850.00. Following the sale, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $660,250. This trade represents a 52.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawson Macartney sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the completion of the sale, the director now directly owns 47,965 shares in the company, valued at approximately $3,293,756.55. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,117 shares of company stock valued at $27,140,009 over the last ninety days. Company insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VKTX shares. William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. JPMorgan Chase & Co. started coverage on Viking Therapeutics in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price target on shares of Viking Therapeutics in a research note on Wednesday, September 25th. Morgan Stanley reiterated an “overweight” rating and issued a $105.00 price target on shares of Viking Therapeutics in a research note on Thursday, September 12th. Finally, Piper Sandler assumed coverage on Viking Therapeutics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $74.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $106.75.

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.