UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 23,921 Shares of Viking Therapeutics, Inc. $VKTX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 9.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 229,973 shares of the biotechnology company’s stock after selling 23,921 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Viking Therapeutics were worth $8,971,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ballast Advisors LLC acquired a new position in Viking Therapeutics in the first quarter valued at $33,000. Quattro Advisors LLC bought a new stake in Viking Therapeutics during the fourth quarter valued at $37,000. Fifth Third Bancorp grew its holdings in Viking Therapeutics by 169.2% during the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 677 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Viking Therapeutics during the 1st quarter worth about $50,000. Finally, Allworth Financial LP bought a new position in shares of Viking Therapeutics in the 2nd quarter worth about $53,000. Institutional investors own 76.03% of the company’s stock.

Insider Buying and Selling

In other Viking Therapeutics news, COO Marianna Mancini sold 18,217 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $609,722.99. Following the transaction, the chief operating officer owned 422,760 shares in the company, valued at approximately $14,149,777.20. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.32, for a total value of $4,948,586.44. Following the completion of the sale, the chief executive officer directly owned 2,572,441 shares of the company’s stock, valued at $85,713,734.12. This trade represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is owned by company insiders.

Viking Therapeutics Stock Performance

Shares of NASDAQ VKTX opened at $34.87 on Tuesday. The firm’s 50-day moving average price is $35.32 and its 200-day moving average price is $33.52. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15. The firm has a market capitalization of $4.07 billion, a P/E ratio of -7.48 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.11. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.58) EPS. Equities research analysts forecast that Viking Therapeutics, Inc. will post -4.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. Lake Street Capital initiated coverage on Viking Therapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Canaccord Genuity Group boosted their price target on Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.62.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company’s lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.