Braidwell LP Has $19.96 Million Stock Holdings in Viking Therapeutics, Inc. $VKTX

Braidwell LP decreased its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 47.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 759,455 shares of the biotechnology company’s stock after selling 678,100 shares during the quarter. Braidwell LP’s holdings in Viking Therapeutics were worth $19,958,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Viking Therapeutics by 58.4% in the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Viking Therapeutics during the 2nd quarter worth about $29,000. Golden State Wealth Management LLC purchased a new position in Viking Therapeutics during the 3rd quarter valued at about $30,000. Aster Capital Management DIFC Ltd purchased a new position in Viking Therapeutics during the 3rd quarter valued at about $38,000. Finally, Avion Wealth increased its holdings in shares of Viking Therapeutics by 1,157.0% in the 3rd quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 1,400 shares during the period. 76.03% of the stock is owned by institutional investors and hedge funds.

Viking Therapeutics Price Performance

VKTX opened at $35.63 on Friday. The company has a market capitalization of $4.12 billion, a PE ratio of -11.20 and a beta of 0.75. Viking Therapeutics, Inc. has a fifty-two week low of $18.92 and a fifty-two week high of $43.15. The business has a 50-day moving average of $31.80 and a 200-day moving average of $32.50.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, COO Marianna Mancini sold 57,661 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.98, for a total transaction of $1,901,659.78. Following the transaction, the chief operating officer owned 409,190 shares in the company, valued at $13,495,086.20. This represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the transaction, the chief financial officer owned 189,891 shares in the company, valued at $6,247,413.90. This represents a 23.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 364,731 shares of company stock valued at $12,053,627. 4.10% of the stock is currently owned by company insiders.

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.