Focus Financial Network Inc. Sells 534 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Focus Financial Network Inc. lowered its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,154 shares of the biotechnology company’s stock after selling 534 shares during the quarter. Focus Financial Network Inc.’s holdings in Viking Therapeutics were worth $326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in shares of Viking Therapeutics during the third quarter valued at approximately $26,000. GAMMA Investing LLC grew its stake in Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 243 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Viking Therapeutics during the 2nd quarter valued at $27,000. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Viking Therapeutics in the 3rd quarter worth about $32,000. Finally, Massmutual Trust Co. FSB ADV boosted 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 worth $35,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Wall Street Analysts Forecast Growth

VKTX has been the topic of several research reports. JPMorgan Chase & Co. began coverage on shares of Viking Therapeutics in a research report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $138.00 price target on shares of Viking Therapeutics in a report on Wednesday, September 25th. Raymond James increased their price objective on Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Viking Therapeutics in a research report on Thursday, October 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $105.00 price target on shares of Viking Therapeutics in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Viking Therapeutics Stock Up 0.5 %

VKTX stock opened at $72.88 on Monday. Viking Therapeutics, Inc. has a twelve month low of $9.34 and a twelve month high of $99.41. The firm has a market capitalization of $8.12 billion, a PE ratio of -78.36 and a beta of 1.00. The stock has a 50-day simple moving average of $64.44 and a two-hundred day simple moving average of $61.81.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter in the prior year, the business posted ($0.23) EPS. On average, equities research analysts anticipate that Viking Therapeutics, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, CFO Greg Zante sold 131,687 shares of Viking Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $76.61, for a total transaction of $10,088,541.07. Following the completion of the sale, the chief financial officer now owns 149,366 shares of the company’s stock, valued at approximately $11,442,929.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Viking Therapeutics news, CEO Brian Lian sold 1,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 2,354,927 shares of the company’s stock, valued at $164,609,397.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Greg Zante sold 131,687 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $76.61, for a total transaction of $10,088,541.07. Following the sale, the chief financial officer now owns 149,366 shares in the company, valued at approximately $11,442,929.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 525,473 shares of company stock valued at $37,088,158. 4.70% of the stock is currently owned by company insiders.

About Viking Therapeutics

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.