Inspire Advisors LLC Buys Shares of 22,615 Viking Therapeutics, Inc. $VKTX

Inspire Advisors LLC purchased a new position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,615 shares of the biotechnology company’s stock, valued at approximately $594,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its position in Viking Therapeutics by 58.4% during the 2nd quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock worth $25,000 after buying an additional 352 shares during the period. Glass Jacobson Investment Advisors llc acquired a new position in shares of Viking Therapeutics during the second quarter worth $28,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Viking Therapeutics in the second quarter worth $29,000. Avion Wealth grew its stake in shares of Viking Therapeutics by 1,157.0% in the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Viking Therapeutics by 33.4% in the second quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.

Insider Activity at Viking Therapeutics

In other news, Director Matthew W. Foehr sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $35.11, for a total transaction of $561,760.00. Following the completion of the sale, the director owned 132,036 shares of the company’s stock, valued at $4,635,783.96. This trade represents a 10.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Lian sold 233,409 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the transaction, the chief executive officer owned 2,499,291 shares in the company, valued at $82,376,631.36. The trade was a 8.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 476,090 shares of company stock worth $15,985,782. Corporate insiders own 4.10% of the company’s stock.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $33.52 on Wednesday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -15.81 and a beta of 0.71. The business’s 50-day moving average is $35.49 and its 200-day moving average is $32.79. Viking Therapeutics, Inc. has a 1 year low of $18.92 and a 1 year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.14). During the same period last year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, October 8th. B. Riley upgraded Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, October 23rd. Cantor Fitzgerald set a $105.00 price objective on Viking Therapeutics in a research note on Thursday, October 23rd. Canaccord Genuity Group increased their target price on shares of Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley raised their price target on shares of Viking Therapeutics from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.14.

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.