Sphera Funds Management LTD. Makes New Investment in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Sphera Funds Management LTD. acquired a new position in Viking Therapeutics, Inc. (NASDAQ:VKTX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 133,066 shares of the biotechnology company’s stock, valued at approximately $8,424,000. Viking Therapeutics accounts for approximately 1.3% of Sphera Funds Management LTD.’s investment portfolio, making the stock its 21st largest position. Sphera Funds Management LTD. owned 0.12% of Viking Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in shares of Viking Therapeutics in the 3rd quarter worth $26,000. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 243 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Viking Therapeutics during the second quarter worth about $27,000. Stone House Investment Management LLC grew its holdings in Viking Therapeutics by 66.7% during the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of Viking Therapeutics during the third quarter worth approximately $32,000. 76.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Viking Therapeutics news, Director J Matthew Singleton sold 10,300 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $69.50, for a total value of $715,850.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at $660,250. This represents a 52.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.89, for a total transaction of $889,790.00. Following the sale, the director now directly owns 9,500 shares in the company, valued at $768,455. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,117 shares of company stock worth $27,140,009. Company insiders own 4.70% of the company’s stock.

Viking Therapeutics Trading Up 1.9 %

Shares of VKTX opened at $51.24 on Thursday. Viking Therapeutics, Inc. has a 1-year low of $14.82 and a 1-year high of $99.41. The company has a 50-day moving average of $61.91 and a 200 day moving average of $59.23.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Equities research analysts predict that Viking Therapeutics, Inc. will post -0.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VKTX. Morgan Stanley reiterated an “overweight” rating and issued a $105.00 price target on shares of Viking Therapeutics in a research report on Thursday, September 12th. B. Riley began coverage on shares of Viking Therapeutics in a research note on Friday, November 22nd. They issued a “buy” rating and a $109.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Tuesday, November 26th. JPMorgan Chase & Co. began coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They set an “overweight” rating and a $80.00 price objective on the stock. Finally, Piper Sandler started coverage on shares of Viking Therapeutics in a report on Monday. They issued an “overweight” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price 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.