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

SG Americas Securities LLC grew its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 18.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 82,482 shares of the biotechnology company’s stock after purchasing an additional 12,869 shares during the quarter. SG Americas Securities LLC’s holdings in Viking Therapeutics were worth $2,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VKTX. Raleigh Capital Management Inc. increased its stake in shares of Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 347 shares during the period. Quattro Advisors LLC bought a new stake in shares of Viking Therapeutics in the fourth quarter valued at about $37,000. Aster Capital Management DIFC Ltd purchased a new stake in Viking Therapeutics in the third quarter worth about $38,000. Fifth Third Bancorp lifted its stake in Viking Therapeutics by 169.2% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the period. Finally, Lodestone Wealth Management LLC bought a new position in Viking Therapeutics during the 4th quarter worth about $39,000. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Price Performance

Shares of NASDAQ VKTX opened at $39.01 on Wednesday. The stock has a market capitalization of $4.53 billion, a P/E ratio of -9.42 and a beta of 0.69. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The business has a fifty day moving average price of $31.75 and a 200 day moving average price of $32.65.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, equities research analysts anticipate that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on VKTX shares. HC Wainwright reissued a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Monday, March 23rd. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a report on Thursday, April 30th. Truist Financial started coverage on shares of Viking Therapeutics in a research report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price target for the company. Lake Street Capital started coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, BTIG Research reissued a “buy” rating and set a $125.00 price objective on shares of Viking Therapeutics in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Viking Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $93.60.

About Viking Therapeutics

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.