Curi RMB Capital LLC Purchases New Shares in Viking Therapeutics, Inc. (NASDAQ:VKTX)

by · The Cerbat Gem

Curi RMB Capital LLC acquired a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,034 shares of the biotechnology company’s stock, valued at approximately $382,000.

Several other hedge funds have also modified their holdings of VKTX. Blue Trust Inc. acquired a new position in Viking Therapeutics in the 3rd quarter worth about $26,000. GAMMA Investing LLC raised its stake in shares of Viking Therapeutics by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after buying an additional 243 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Viking Therapeutics during the 2nd quarter valued at approximately $27,000. Gilliland Jeter Wealth Management LLC purchased a new stake in Viking Therapeutics in the 3rd quarter worth $32,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Viking Therapeutics by 84.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 253 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Trading Down 7.4 %

Viking Therapeutics stock opened at $49.58 on Friday. The stock has a market cap of $5.53 billion, a P/E ratio of -53.31 and a beta of 1.00. The company has a 50-day moving average price of $64.60 and a 200 day moving average price of $61.30. Viking Therapeutics, Inc. has a 12-month low of $10.34 and a 12-month 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, beating the consensus estimate of ($0.24) by $0.02. During the same quarter in the previous year, the business posted ($0.23) EPS. As a group, analysts forecast that Viking Therapeutics, Inc. will post -0.98 EPS for the current year.

Insider Activity

In other Viking Therapeutics news, Director J Matthew Singleton sold 16,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $62.22, for a total value of $995,520.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at $591,090. This represents a 62.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Lian sold 112,870 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.80, for a total transaction of $7,426,846.00. Following the transaction, the chief executive officer now directly owns 2,354,927 shares of the company’s stock, valued at approximately $154,954,196.60. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 506,687 shares of company stock valued at $36,029,679 in the last quarter. Insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

VKTX has been the topic of several research analyst reports. Raymond James lifted their target price on shares of Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Oppenheimer reiterated an “outperform” rating and set a $138.00 price objective on shares of Viking Therapeutics in a research note on Wednesday, September 25th. JPMorgan Chase & Co. began coverage on Viking Therapeutics in a research report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Viking Therapeutics in a research note on Thursday, September 12th. Finally, StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.80.

View Our Latest Research Report on Viking Therapeutics

About Viking Therapeutics

(Free Report)

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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