Platform Technology Partners Buys Shares of 4,560 Viking Therapeutics, Inc. (NASDAQ:VKTX)

Platform Technology Partners purchased a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,560 shares of the biotechnology company’s stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VKTX. GSA Capital Partners LLP increased its holdings in Viking Therapeutics by 64.6% during the 3rd quarter. GSA Capital Partners LLP now owns 8,160 shares of the biotechnology company’s stock worth $517,000 after acquiring an additional 3,202 shares during the period. Venturi Wealth Management LLC bought a new position in Viking Therapeutics in the 3rd quarter valued at $196,000. Lisanti Capital Growth LLC grew its position in shares of Viking Therapeutics by 15.4% during the 3rd quarter. Lisanti Capital Growth LLC now owns 46,865 shares of the biotechnology company’s stock valued at $2,967,000 after purchasing an additional 6,270 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Viking Therapeutics by 88.0% in the third quarter. Chartwell Investment Partners LLC now owns 36,666 shares of the biotechnology company’s stock worth $2,322,000 after purchasing an additional 17,159 shares during the period. Finally, Sigma Planning Corp purchased a new stake in shares of Viking Therapeutics in the third quarter worth $957,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, Director J Matthew Singleton sold 16,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $62.22, for a total transaction of $995,520.00. Following the completion of the sale, the director now owns 9,500 shares of the company’s stock, valued at $591,090. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Viking Therapeutics news, Director J Matthew Singleton sold 16,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $62.22, for a total value of $995,520.00. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $591,090. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Lian sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.90, for a total value of $69,900.00. Following the transaction, the chief executive officer now owns 2,354,927 shares of the company’s stock, valued at approximately $164,609,397.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 506,687 shares of company stock worth $36,029,679. Insiders own 4.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HC Wainwright upped their target price on Viking Therapeutics from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Raymond James upped their price objective on shares of Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Morgan Stanley reiterated an “overweight” rating and set a $105.00 target price on shares of Viking Therapeutics in a research report on Thursday, September 12th. Oppenheimer reissued an “outperform” rating and issued a $138.00 price target on shares of Viking Therapeutics in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Viking Therapeutics in a research report on Wednesday, September 11th. They set an “overweight” rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.80.

Viking Therapeutics Trading Down 3.8 %

Shares of NASDAQ:VKTX opened at $60.60 on Wednesday. The company’s fifty day moving average is $64.79 and its 200 day moving average is $61.71. Viking Therapeutics, Inc. has a 52 week low of $9.49 and a 52 week high of $99.41.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. During the same period in the previous year, the firm earned ($0.23) EPS. As a group, sell-side analysts forecast that Viking Therapeutics, Inc. will post -0.98 EPS for the current fiscal year.

Viking Therapeutics Profile

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.