Principal Financial Group Inc. raised its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 29.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 593,528 shares of the biotechnology company's stock after acquiring an additional 136,729 shares during the period. Principal Financial Group Inc. owned approximately 0.53% of Viking Therapeutics worth $37,576,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of VKTX. Blue Trust Inc. bought a new stake in shares of Viking Therapeutics in the 3rd quarter worth $26,000. GAMMA Investing LLC raised its holdings in Viking Therapeutics by 124.6% in 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 period. Stone House Investment Management LLC lifted its holdings in Viking Therapeutics by 66.7% during the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in Viking Therapeutics in the 3rd quarter worth $32,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Viking Therapeutics by 84.3% during the 3rd 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 in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:VKTX opened at $42.32 on Tuesday. The stock's fifty day moving average is $57.11 and its 200 day moving average is $57.72. The firm has a market capitalization of $4.72 billion, a PE ratio of -45.50 and a beta of 0.89. Viking Therapeutics, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $99.41.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02. During the same quarter in the previous year, the firm earned ($0.23) EPS. Equities analysts forecast that Viking Therapeutics, Inc. will post -0.97 EPS for the current year.
In related news, Director Lawson Macartney sold 2,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the transaction, the director now owns 47,965 shares of the company's stock, valued at $3,293,756.55. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Greg Zante sold 131,687 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $76.61, for a total transaction of $10,088,541.07. Following the completion of the sale, the chief financial officer now directly owns 149,366 shares of the company's stock, valued at approximately $11,442,929.26. This trade represents a 46.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,687 shares of company stock worth $11,115,671. 4.70% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on VKTX shares. Morgan Stanley reissued an "overweight" rating and issued a $105.00 target price on shares of Viking Therapeutics in a report on Thursday, September 12th. JPMorgan Chase & Co. assumed coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They set an "overweight" rating and a $80.00 price objective for the company. Piper Sandler initiated coverage on Viking Therapeutics in a report on Monday, December 2nd. They issued an "overweight" rating and a $74.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research note on Wednesday, December 18th. Finally, B. Riley assumed coverage on Viking Therapeutics in a research note on Friday, November 22nd. They issued a "buy" rating and a $109.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $106.75.
Read Our Latest Research Report on 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.
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