Tower Research Capital LLC TRC has reported a significant increase in its holdings of Viking Therapeutics, Inc. (NASDAQ:VKTX) during the first quarter of this year. According to the company’s recent disclosure with the Securities and Exchange Commission, TRC raised its holdings by 262.2%, acquiring an additional 9,391 shares and bringing its total to 12,973 shares. At the end of the quarter, TRC’s holdings in Viking Therapeutics were valued at $216,000.
Viking Therapeutics is a clinical-stage biopharmaceutical company that focuses on developing innovative therapies for metabolic and endocrine disorders. The company’s primary drug candidate, VK2809, is an orally available agonist of the thyroid hormone receptor beta (TRß) that selectively targets specific tissues and receptors. VK2809 is currently in Phase IIb clinical trials and aims to address patients with biopsy-confirmed non-alcoholic steatohepatitis (NASH), as well as non-alcoholic fatty liver disease (NAFLD).
The increase in TRC’s holdings reflects growing market expectations for Viking Therapeutics’ potential in addressing significant medical conditions such as NASH and NAFLD. These diseases are a global health concern due to their prevalence and impact on liver health.
NASH is a type of liver inflammation caused by excessive fat buildup in the liver cells over time. This condition can lead to severe liver damage, including fibrosis or scarring of the liver tissue, which may progress to cirrhosis or even liver cancer. NAFLD encompasses a range of conditions characterized by excess fat accumulation in the liver without significant alcohol consumption.
VK2809 works by targeting the thyroid hormone receptor beta (TRß), which plays a critical role in regulating lipid metabolism and energy expenditure. By selectively activating this receptor subtype, VK2809 aims to address underlying metabolic dysregulation associated with NASH and NAFLD, potentially leading to improved liver health and reduced disease progression.
The progress of VK2809 in Phase IIb clinical trials demonstrates Viking Therapeutics’ commitment to advancing novel therapeutic options for patients with metabolic and endocrine disorders. The company’s focus on addressing unmet medical needs highlights its dedication to improving patient outcomes and quality of life.
Investors and market analysts are closely monitoring the development of VK2809 and Viking Therapeutics’ efforts in the field of metabolic and endocrine disorders. The increased holdings by TRC indicate growing confidence in the potential of Viking Therapeutics’ drug candidate and its ability to address significant health challenges.
As the clinical trials progress and more data becomes available, further insights into VK2809’s efficacy, safety, and potential impact on NASH and NAFLD will be gained. The positive outcome of these trials would not only benefit patients in need of effective therapies but also pave the way for Viking Therapeutics to establish itself as a key player in the biopharmaceutical industry.
In conclusion, Tower Research Capital LLC TRC has significantly increased its holdings in Viking Therapeutics, Inc. during the first quarter of this year. This reflects growing expectations for the company’s lead drug candidate, VK2809, which is currently undergoing Phase IIb clinical trials for treating NASH and NAFLD. With its focused approach on developing novel therapies for metabolic and endocrine disorders, Viking Therapeutics aims to address significant medical needs while potentially establishing itself as a prominent player in the biopharmaceutical sector.
Institutional Investors Show Interest in Viking Therapeutics as Analysts Remain Optimistic
As of the latest financial reports, Viking Therapeutics (NASDAQ:VKTX) has seen significant activity from several institutional investors. Denali Advisors LLC recently acquired a new stake in Viking Therapeutics during the first quarter, purchasing shares worth $55,000. Similarly, Zurcher Kantonalbank Zurich Cantonalbank also added to their investment in Viking Therapeutics by acquiring a stake worth approximately $151,000 in the same quarter.
Joining these institutional investors is Brinker Capital Investments LLC, which invested around $95,000 in Viking Therapeutics during the fourth quarter by purchasing new shares of the company. Herr Investment Group LLC also purchased shares in the biotechnology company during the same period, valuing their stake at approximately $95,000.
Furthermore, Steward Partners Investment Advisory LLC witnessed significant growth in their ownership of Viking Therapeutics shares. Their stake increased by a staggering 2,000% during the fourth quarter. They now own 10,500 shares valued at $99,000 after acquiring an additional 10,000 shares.
In total, institutional investors currently own around 78.13% of Viking Therapeutics’ stock.
Regarding analysts’ opinions on Viking Therapeutics’ stock performance and future outlooks, several experts have weighed in with their assessments. Raymond James recently raised its price target for the stock from $35.00 to $37.00 in its research report released on May 17th. Stifel Nicolaus reaffirmed their “buy” rating on Viking Therapeutics’ stock with a price target of $30.00 on August 8th.
Similarly supporting the positive sentiments toward Viking Therapeutics is Roth Capital’s recommendation to “buy” their stock as expressed in their research report published on May 30th. However, StockNews.com singled out a “sell” rating for Viking Therapeutics’ stock.
Overall consensus from Bloomberg data reveals that analysts have predominantly labeled Viking Therapeutics’ stock as a “Moderate Buy” with an average price target of $30.25.
On Monday, shares of Viking Therapeutics opened at $13.62 on NASDAQ. The stock’s fifty-day simple moving average stands at $15.48, and the two-hundred-day simple moving average hovers around $16.63. Over the past year, Viking Therapeutics has reached a 52-week high of $25.72 and a low of $2.53.
Viking Therapeutics disclosed its quarterly earnings data on July 26th, revealing an earnings per share (EPS) of ($0.19) for the quarter, surpassing expectations by $0.02 per share. Although the firm reported no growth in revenue compared to the same quarter last year, it is worth noting that their EPS improved from ($0.23) in the prior year’s corresponding period.
Equities research analysts have predicted that for the current fiscal year, Viking Therapeutics will post an EPS of -0.91.
As institutional investors continue to increase or decrease their stakes in Viking Therapeutics and analysts maintain their optimistic outlooks for the company’s future prospects, it remains to be seen how these factors will impact Viking Therapeutics’ stock performance moving forward.
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