On November 14, 2025, 5AM Venture Management, LLC, disclosed that it sold out its Viking Therapeutics stake, a move representing an estimated $5.02 million net position change.
What happened
According to a November 14, 2025 SEC filing, 5AM Venture Management, LLC, liquidated its position in Viking Therapeutics (VKTX 1.20%)as of Q3 2025. The fund sold its entire holding of 189,593 shares over the quarter, reducing its stake from 1.9% of assets under management to zero. The estimated value of the transaction was approximately $5.02 million based on the average share price for the quarter.
What else to know
Following the sale, Viking Therapeutics represents 0% of 5AM Venture Management, LLC’s 13F reportable AUM.
Top holdings after the filing:
- SKYE: $38.05 million (13.9% of AUM)
- TRDA: $24.7 million (9% of AUM)
- PHVS: $19.9 million (7.3% of AUM)
- CAMP: $17.6 million (6.4% of AUM)
- CNTA: $16.51 million (6.0% of AUM)
As of November 18, 2025, shares of Viking Therapeutics were priced at $38.00, down 5.6% YTD, underperforming the S&P 500 by 18.7 percentage points during the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of November 18,2025) | $38.00 |
| YTD Performance | -5.6% |
| Dividend Yield | N/A |
Company Snapshot
- Viking Therapeutics, Inc. is a clinical-stage biotechnology company specializing in the development of innovative therapies for metabolic and endocrine diseases.
- The company leverages a focused pipeline of orally available drug candidates, aiming to address significant unmet medical needs in areas such as non-alcoholic steatohepatitis and rare genetic disorders.
- Operates as a clinical-stage biopharmaceutical company, generating value through the advancement of proprietary drug candidates in clinical trials with the aim of future commercialization or strategic partnerships.
- With a lean operational structure and a robust clinical development strategy, Viking Therapeutics seeks to create long-term value through scientific advancement and potential future market entry.
Foolish take
5AM Venture Management getting out of Viking Therapeutics seems less like a vote of no confidence in the science and more like a simple rebalancing by a fund that was heavily focused on early-stage biotech.
Viking is still a classic clinical-stage story where its value is entirely based on the success of its drug development, not on day-to-day stock trading. Its focus on metabolic and endocrine disorders puts it in a market with huge patient needs, but the journey to actually selling a product is typically long, expensive, and full of major, all-or-nothing milestones that tend to make big institutions nervous.
While the stock has trailed the wider market this year, the company's long-term future is still tied to advancing its own drug pipeline. One holder completely selling out doesn't change that big picture.
For individual investors, the message is clear: investing in development-stage biotech requires patience, strong belief, and a solid stomach. The things that truly move the stock continue to be clinical data, not who's buying or selling shares.
Glossary
13F reportable assets under management: The portion of a fund's holdings required to be disclosed quarterly to the SEC.
Liquidated: Sold off an entire investment position, reducing the holding to zero.
Net position change: The total dollar value difference in a fund's holding after buying or selling an asset.
Assets under management (AUM): The total market value of investments managed by a fund or firm.
Clinical-stage biopharmaceutical company: A firm developing drugs that are currently being tested in human clinical trials but not yet approved for sale.
Proprietary drug candidates: Experimental medicines owned and developed by a specific company.
Strategic partnerships: Business collaborations formed to advance mutual goals, such as drug development or commercialization.
Metabolic and endocrine disorders: Diseases affecting the body's metabolism or hormone-producing glands.
Pipeline: The set of drug candidates a company is developing, typically at various stages of research and testing.
Market entry: The process of launching a new product or service into the marketplace.
TTM: The 12-month period ending with the most recent quarterly report.
