Banque Pictet & Cie SA Raises Stake in Viking Therapeutics, Inc. $VKTX

Banque Pictet & Cie SA boosted its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 281.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,026 shares of the biotechnology company’s stock after acquiring an additional 25,849 shares during the period. Banque Pictet & Cie SA’s holdings in Viking Therapeutics were worth $1,232,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at $29,000. Golden State Wealth Management LLC acquired a new position in shares of Viking Therapeutics during the third quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new position in Viking Therapeutics in the third quarter valued at $38,000. Avion Wealth increased its holdings in Viking Therapeutics by 1,157.0% in the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 1,400 shares during the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Viking Therapeutics in the fourth quarter valued at $39,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Monday, March 23rd. Zacks Research raised Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. BTIG Research upgraded Viking Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. Wolfe Research started coverage on Viking Therapeutics in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Viking Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $87.80.

Viking Therapeutics Price Performance

NASDAQ VKTX opened at $34.80 on Friday. The company has a fifty day moving average of $31.96 and a two-hundred day moving average of $33.13. The company has a market capitalization of $4.02 billion, a PE ratio of -10.94 and a beta of 0.83. Viking Therapeutics, Inc. has a 1 year low of $18.92 and a 1 year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.49). During the same period last year, the business posted ($0.32) earnings per share. On average, research analysts expect that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In other news, insider Neil William Aubuchon acquired 4,475 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $33.50 per share, with a total value of $149,912.50. Following the completion of the acquisition, the insider owned 4,475 shares of the company’s stock, valued at $149,912.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Greg Zante sold 57,661 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the transaction, the chief financial officer owned 189,891 shares in the company, valued at approximately $6,247,413.90. This trade represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 348,731 shares of company stock worth $11,491,867. 4.10% of the stock is owned by corporate 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.