Hollencrest Capital Management Has $130,000 Stake in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Hollencrest Capital Management increased its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 68.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,459 shares of the biotechnology company’s stock after purchasing an additional 1,000 shares during the quarter. Hollencrest Capital Management’s holdings in Viking Therapeutics were worth $130,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Avoro Capital Advisors LLC bought a new stake in shares of Viking Therapeutics in the 1st quarter valued at approximately $294,380,000. Vanguard Group Inc. boosted its stake in Viking Therapeutics by 44.7% in the 1st quarter. Vanguard Group Inc. now owns 7,785,724 shares of the biotechnology company’s stock valued at $638,429,000 after buying an additional 2,403,820 shares in the last quarter. Perpetual Ltd bought a new stake in Viking Therapeutics in the first quarter valued at $78,586,000. Hood River Capital Management LLC acquired a new position in Viking Therapeutics during the first quarter worth $55,098,000. Finally, Westfield Capital Management Co. LP bought a new position in shares of Viking Therapeutics during the first quarter valued at $54,295,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VKTX shares. Maxim Group reaffirmed a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a report on Tuesday, June 4th. JPMorgan Chase & Co. began coverage on shares of Viking Therapeutics in a research note on Wednesday, September 11th. They set an “overweight” rating and a $80.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Viking Therapeutics in a research note on Thursday, July 25th. Raymond James increased their price target on Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $105.00 price target on shares of Viking Therapeutics in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Viking Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Viking Therapeutics Trading Up 3.4 %

Viking Therapeutics stock opened at $70.47 on Friday. The firm has a market capitalization of $7.81 billion, a P/E ratio of -75.77 and a beta of 1.00. The business has a 50-day moving average of $59.08 and a 200-day moving average of $63.38. Viking Therapeutics, Inc. has a 1 year low of $8.28 and a 1 year high of $99.41.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. During the same quarter last year, the firm posted ($0.19) EPS. Research analysts anticipate that Viking Therapeutics, Inc. will post -1 EPS for the current fiscal year.

Insider Activity

In related news, COO Marianna Mancini sold 18,026 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the sale, the chief operating officer now owns 362,149 shares of the company’s stock, valued at approximately $20,689,572.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brian Lian sold 115,859 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $57.58, for a total value of $6,671,161.22. Following the completion of the transaction, the chief executive officer now owns 2,354,927 shares in the company, valued at $135,596,696.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Marianna Mancini sold 18,026 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the sale, the chief operating officer now directly owns 362,149 shares of the company’s stock, valued at approximately $20,689,572.37. The disclosure for this sale can be found here. Insiders sold 516,671 shares of company stock valued at $33,810,813 in the last quarter. Company insiders own 4.70% of the company’s stock.

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.