BlackRock Inc. Has $58.36 Million Stake in Viking Therapeutics Inc (VKTX)
BlackRock Inc. raised its stake in shares of Viking Therapeutics Inc (NASDAQ:VKTX) by 14.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,349,901 shares of the biotechnology company’s stock after purchasing an additional 411,256 shares during the quarter. BlackRock Inc. owned about 0.06% of Viking Therapeutics worth $58,355,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new position in shares of Viking Therapeutics during the 2nd quarter worth about $19,552,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Viking Therapeutics in the 2nd quarter valued at approximately $875,000. Highland Capital Management LP acquired a new position in shares of Viking Therapeutics in the 2nd quarter valued at approximately $302,000. Rhumbline Advisers acquired a new position in shares of Viking Therapeutics in the 2nd quarter valued at approximately $395,000. Finally, Strs Ohio acquired a new position in shares of Viking Therapeutics in the 2nd quarter valued at approximately $120,000. Institutional investors own 59.80% of the company’s stock.
VKTX stock opened at $8.32 on Friday. The company has a market cap of $600.98 million, a P/E ratio of -10.53 and a beta of 3.01. Viking Therapeutics Inc has a 1-year low of $3.69 and a 1-year high of $24.00.
Several equities analysts recently issued reports on VKTX shares. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Viking Therapeutics in a research report on Thursday, November 8th. BidaskClub upgraded Viking Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. William Blair restated a “buy” rating on shares of Viking Therapeutics in a research note on Tuesday, November 13th. Maxim Group restated a “buy” rating and issued a $28.00 target price (up previously from $14.00) on shares of Viking Therapeutics in a research note on Tuesday, September 18th. Finally, Raymond James restated an “outperform” rating and issued a $43.00 target price (up previously from $15.00) on shares of Viking Therapeutics in a research note on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.29.
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About Viking Therapeutics
Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.
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