SAN DIEGO—Viking Therapeutics, Inc. (NASDAQ:VKTX), a $4.7 billion biotech company, saw its President and CEO Brian Lian recently sell shares worth approximately $8.3 million, according to a filing with the Securities and Exchange Commission. The transactions, dated January 6, involved the sale of 194,490 shares at prices ranging from $42.6838 to $43.3169 per share. According to InvestingPro analysis, the stock appears fairly valued at current levels, with analyst price targets ranging from $74 to $164.
The sale was part of a series of transactions disclosed in the Form 4 filing. On January 3, Lian acquired 256,133 shares of common stock through restricted stock units and performance-based awards, with no cash exchange involved. Additionally, Lian was granted stock options for 78,300 shares, which will vest over the coming years.
These transactions reflect Lian's ongoing management of his equity holdings in the company. Following the sale, Lian retains ownership of 2,366,570 shares of Viking Therapeutics.
In other recent news, Viking Therapeutics has seen a series of developments. The company's stock soared following the announcement of disappointing results from Novo Nordisk (NYSE:NVO)'s obesity drug trial, which led to a shift in investor focus to competitors like Viking. On the other hand, Viking's shares fell after Merck (NS:PROR) inked a deal with Hansoh Pharma to develop a potential competitor to Viking's metabolic disorder candidate, VK2735.
In the analyst sphere, Viking received an Overweight rating from Piper Sandler, highlighting the potential of VK2735 as a leading oral incretin therapy. B.Riley also initiated coverage on Viking with a Buy rating, citing confidence in VK2735's potential to significantly impact the treatment landscape for obesity, type 2 diabetes, and metabolic dysfunction-associated steatohepatitis (MASH).
Viking has reported positive results from its Phase 2b clinical trial of VK2809 for treating non-alcoholic steatohepatitis (NASH), achieving significant reductions in liver fat content and improvements in fibrosis. The company's financial results for Q3 2024 revealed a net loss of $24.9 million, with research and development expenses of $22.8 million. Despite this, the company's cash and equivalents remain strong at $930 million, supporting its future clinical trials. These are the recent developments in Viking Therapeutics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.