Odyssean LLC Boosts Stake in Viking Therapeutics, Inc. $VKTX

Odyssean LLC increased its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 209.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,987 shares of the biotechnology company’s stock after acquiring an additional 50,763 shares during the period. Odyssean LLC owned about 0.06% of Viking Therapeutics worth $2,925,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. raised its position in Viking Therapeutics by 2.4% during the second quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock valued at $466,000 after purchasing an additional 406 shares in the last quarter. Prospera Financial Services Inc lifted its stake in Viking Therapeutics by 5.1% during the fourth quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock worth $329,000 after purchasing an additional 455 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Viking Therapeutics by 13.6% in the 1st quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock worth $126,000 after purchasing an additional 462 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Viking Therapeutics by 29.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 481 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its position in shares of Viking Therapeutics by 16.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,752 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 536 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Trading Up 2.6%

VKTX opened at $34.87 on Friday. Viking Therapeutics, Inc. has a 12 month low of $22.96 and a 12 month high of $43.15. The business’s 50-day moving average price is $35.41 and its 200-day moving average price is $33.46. The company has a market cap of $4.07 billion, a P/E ratio of -7.48 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.11. During the same period in the previous year, the firm earned ($0.58) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts forecast that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VKTX shares. Canaccord Genuity Group raised their price objective on Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Lake Street Capital started coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, COO Marianna Mancini sold 18,217 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the sale, the chief operating officer owned 422,760 shares of the company’s stock, valued at $14,149,777.20. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $710,132.99. Following the completion of the sale, the chief financial officer directly owned 212,204 shares in the company, valued at approximately $7,102,467.88. This trade represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 187,951 shares of company stock worth $6,268,442. 5.30% of the stock is currently owned by insiders.

Viking Therapeutics 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.