VKTX

Ligand Pharmaceuticals Cuts Stake in Viking Therapeutics (VKTX)

Fintel reports that Ligand Pharmaceuticals has filed a 13D/A form with the SEC disclosing ownership of 6.07MM shares of Viking Therapeutics Inc (VKTX). This represents 7.9% of the company.

In their previous filing dated August 28, 2020 they reported 7.34MM shares and 9.90% of the company, a decrease in shares of 17.36% and a decrease in total ownership of 2.00% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 95.61% Upside

As of February 8, 2023, the average one-year price target for Viking Therapeutics is $18.70. The forecasts range from a low of $11.11 to a high of $31.50. The average price target represents an increase of 95.61% from its latest reported closing price of $9.56.

The projected annual revenue for Viking Therapeutics is $0MM. The projected annual EPS is -$1.01.

What is the Fund Sentiment?

There are 158 funds or institutions reporting positions in Viking Therapeutics. This is a decrease of 49 owner(s) or 23.67% in the last quarter. Average portfolio weight of all funds dedicated to VKTX is 0.02%, a decrease of 20.95%. Total shares owned by institutions decreased in the last three months by 1.25% to 27,896K shares. The put/call ratio of VKTX is 0.19, indicating a bullish outlook.

What are large shareholders doing?

VKTX / Viking Therapeutics Inc Ownership

Millennium Management holds 3,103K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 1,315K shares, representing an increase of 57.63%. The firm increased its portfolio allocation in VKTX by 111.71% over the last quarter.

Balyasny Asset Management holds 2,674K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 2,643K shares, representing an increase of 1.15%. The firm decreased its portfolio allocation in VKTX by 11.02% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,231K shares representing 2.91% ownership of the company. No change in the last quarter.

Marshall Wace, Llp holds 1,337K shares representing 1.74% ownership of the company.

Laurion Capital Management holds 1,299K shares representing 1.69% ownership of the company. In it's prior filing, the firm reported owning 1,324K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in VKTX by 64.72% over the last quarter.

Viking Therapeutics Background Information
(This description is provided by the company.)

Viking Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel, orally available, first-in-class or best-in-class therapies for the treatment of metabolic and endocrine disorders. Viking's research and development activities leverage its expertise in metabolism to develop innovative therapeutics designed to improve patients' lives. The company's clinical programs include VK2809, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders, which is currently being evaluated in a Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis. In a Phase 2 trial for the treatment of non-alcoholic fatty liver disease (NAFLD) and elevated LDL-C, patients who received VK2809 demonstrated statistically significant reductions in LDL-C and liver fat content compared with patients who received placebo. The company is also developing VK0214, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the potential treatment of X-linked adrenoleukodystrophy (X-ALD). VK0214 is currently being evaluated in a Phase 1 first-in-human clinical trial. The company holds exclusive worldwide rights to a portfolio of five therapeutic programs, including those noted above, which are based on small molecules licensed from Ligand Pharmaceuticals Incorporated.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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