Viking therapeutics CEO sells more than $15 million in company stock to Investing.com

Brian Lian, President and CEO of Viking Therapeutics, Inc. (NASDAQ: ), has sold a significant portion of its company’s stock, according to a recent filing with the Securities and Exchange Commission. On September 20, 2024, Lian sold a total of 216,130 shares of Viking Therapeutics stock, totaling more than $15 million in transactions.

The shares were sold in several transactions at different prices. For a batch of 96,056 shares, sales were made at weighted average prices ranging from $69.90 to $70.89, while another set of 119,874 shares were sold at prices ranging from $70.90 to $71.89. The remaining 200 shares were sold at a weighted average price ranging from $71.97 to $72.00. These sales were executed under a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell stock at predetermined times to avoid insider trading charges.

Despite the large sale, Lian still retains a substantial interest in Viking Therapeutics, owning 2,304,927 shares after the transactions are completed. The sale of shares by a senior executive like Lian is a routine occurrence and is often part of personal financial and estate planning strategies.

San Diego, California-based Viking Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel therapies for metabolic and endocrine disorders. The company’s stock performance and business development continue to be closely watched by pharmaceutical investors.

In other recent news, Viking Therapeutics has made significant progress in the biopharma sector. The company reported positive results from its Phase 2 VENTURE study for the treatment of obesity with VK2735 and its Phase 2b VOYAGE study for NASH and fibrosis with VK2809. These developments have been accompanied by a solid financial position, with Viking Therapeutics boasting more than $900 million in cash reserves.

Morgan Stanley reaffirmed its overweight rating on Viking Therapeutics, supported by early tolerability results of VK2735, which is being developed as a weight loss treatment. JPMorgan initiated coverage on Viking Therapeutics with an overweight rating, closely monitoring the company as it nears a significant milestone with its drug candidate, oral-2735.

Truist Securities maintained a buy rating on Viking Therapeutics, suggesting that recent market reactions present an opportunity for investors to buy Viking stock. These recent developments underscore the company’s commitment to advancing its drug candidates and expanding its clinical programs. Plans are underway to advance VK2735 into Phase 3 development for obesity and explore monthly dosing options, further solidifying Viking Therapeutics’ position in the industry.

InvestingPro Insights

Amid news of Viking Therapeutics, Inc. CEO’s stock sale (NASDAQ:VKTX), Brian Lian, investors may find it beneficial to consider the company’s financial health and market performance. Viking Therapeutics currently has a market cap of $7.76 billion, which reflects the market’s valuation of the company. Despite the absence of profitability over the past twelve months, with operating income of -$124.68 million, the company’s stock has delivered an outstanding return of 429.45% over the past year.

An InvestingPro tip highlights that Viking Therapeutics has more cash than debt on its balance sheet, which is a positive sign for financial stability. Additionally, the company’s liquid assets exceed short-term liabilities, indicating a solid liquidity position. This financial basis can provide some context to the CEO’s decision to sell shares, as the company appears to be in a stable financial state.

However, the company’s trailing-twelve-month price-to-book ratio is 8.48, suggesting the stock is trading at a premium to book value. This is corroborated by another InvestingPro tip pointing out that Viking Therapeutics is trading at a high Price/Book multiple. Investors may interpret this as a sign of market optimism about the company’s future prospects or as a warning of potential overvaluation.

For those interested in a deeper dive into the financials and performance of Viking Therapeutics stock, InvestingPro offers a number of additional tips and real-time metrics. There are currently 11 more InvestingPro tips available for VKTX, which can be accessed at: https://www.investing.com/pro/VKTX.

This article was generated with AI support and reviewed by an editor. For more information, see T&C.