Algert Global LLC Sells 2,280 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Algert Global LLC reduced its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 6.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,264 shares of the biotechnology company’s stock after selling 2,280 shares during the quarter. Algert Global LLC’s holdings in Viking Therapeutics were worth $1,979,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a research report on Tuesday, October 15th. Morgan Stanley reissued an “overweight” rating and issued a $105.00 price target on shares of Viking Therapeutics in a report on Thursday, September 12th. HC Wainwright reaffirmed a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a report on Tuesday. Oppenheimer reissued an “outperform” rating and issued a $138.00 target price on shares of Viking Therapeutics in a research note on Wednesday, September 25th. Finally, B. Riley began coverage on Viking Therapeutics in a research note on Friday, November 22nd. They set a “buy” rating and a $109.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $109.73.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, CEO Brian Lian sold 216,130 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $70.83, for a total transaction of $15,308,487.90. Following the sale, the chief executive officer now owns 2,304,927 shares in the company, valued at approximately $163,257,979.41. The trade was a 8.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawson Macartney sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the completion of the sale, the director now owns 47,965 shares in the company, valued at approximately $3,293,756.55. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,117 shares of company stock worth $27,140,009. 4.70% of the stock is currently owned by insiders.

Viking Therapeutics Stock Performance

Shares of NASDAQ:VKTX opened at $54.51 on Thursday. Viking Therapeutics, Inc. has a 52-week low of $11.55 and a 52-week high of $99.41. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -58.61 and a beta of 1.00. The stock’s 50-day simple moving average is $63.24 and its two-hundred day simple moving average is $59.91.

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

Viking Therapeutics Company 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.