Baker BROS. Advisors LP Makes New $9.62 Million Investment in Viking Therapeutics, Inc. $VKTX

Baker BROS. Advisors LP purchased a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 366,083 shares of the biotechnology company’s stock, valued at approximately $9,621,000.

A number of other institutional investors also recently modified their holdings of VKTX. Allworth Financial LP boosted its stake in shares of Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Viking Therapeutics during the second quarter worth $29,000. Golden State Wealth Management LLC bought a new position in Viking Therapeutics during the third quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new position in Viking Therapeutics in the third quarter valued at $38,000. Finally, Avion Wealth lifted its holdings in Viking Therapeutics by 1,157.0% in the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 1,400 shares during the period. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Stock Up 0.5%

Shares of NASDAQ VKTX opened at $35.63 on Friday. The firm has a market cap of $4.12 billion, a PE ratio of -11.20 and a beta of 0.75. Viking Therapeutics, Inc. has a 12-month low of $18.92 and a 12-month high of $43.15. The company’s fifty day simple moving average is $31.80 and its 200 day simple moving average is $32.50.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the previous year, the company earned ($0.32) EPS. On average, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity at Viking Therapeutics

In other news, insider Neil William Aubuchon bought 4,475 shares of Viking Therapeutics stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $33.50 per share, for a total transaction of $149,912.50. Following the purchase, the insider directly owned 4,475 shares in the company, valued at approximately $149,912.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the completion of the sale, the chief financial officer directly owned 189,891 shares of the company’s stock, valued at $6,247,413.90. The trade was a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 364,731 shares of company stock worth $12,053,627. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley reiterated an “overweight” rating and set a $99.00 price target on shares of Viking Therapeutics in a report on Thursday, February 12th. BTIG Research raised Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Viking Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $87.80.

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.