Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Bought by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. grew its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 122.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,602 shares of the biotechnology company’s stock after buying an additional 44,365 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Viking Therapeutics were worth $3,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of VKTX. FMR LLC lifted its stake in shares of Viking Therapeutics by 0.5% during the 3rd quarter. FMR LLC now owns 16,619,430 shares of the biotechnology company’s stock worth $1,052,176,000 after purchasing an additional 79,149 shares during the period. Perpetual Ltd grew its stake in Viking Therapeutics by 55.4% during the third quarter. Perpetual Ltd now owns 1,269,152 shares of the biotechnology company’s stock worth $80,350,000 after buying an additional 452,344 shares during the period. Braidwell LP increased its position in shares of Viking Therapeutics by 4.5% in the third quarter. Braidwell LP now owns 1,156,977 shares of the biotechnology company’s stock worth $73,248,000 after acquiring an additional 50,072 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Viking Therapeutics by 10,775.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,004,033 shares of the biotechnology company’s stock valued at $63,565,000 after acquiring an additional 994,801 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Viking Therapeutics by 18.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 930,370 shares of the biotechnology company’s stock valued at $58,902,000 after acquiring an additional 143,675 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Insider Buying and Selling

In other news, COO Marianna Mancini sold 54,215 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,317,691.25. Following the transaction, the chief operating officer now directly owns 374,134 shares of the company’s stock, valued at $15,994,228.50. This trade represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Greg Zante sold 50,309 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $2,150,709.75. Following the sale, the chief financial officer now owns 165,259 shares in the company, valued at $7,064,822.25. This represents a 23.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,014 shares of company stock worth $12,920,189 in the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Viking Therapeutics Stock Up 0.8 %

NASDAQ:VKTX opened at $33.69 on Friday. Viking Therapeutics, Inc. has a 52-week low of $22.51 and a 52-week high of $99.41. The business’s 50-day moving average price is $42.57 and its 200 day moving average price is $54.75.

Analyst Ratings Changes

VKTX has been the topic of several analyst reports. B. Riley initiated coverage on Viking Therapeutics in a report on Friday, November 22nd. They set a “buy” rating and a $109.00 target price on the stock. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a research report on Tuesday, October 15th. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a report on Friday, January 17th. Finally, Piper Sandler assumed coverage on Viking Therapeutics in a research note on Monday, December 2nd. They set an “overweight” rating and a $74.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $106.75.

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.