5AM Venture Just Dumped Its Viking Stake—Smart Call or Missed Opportunity?
Key Points
Exited entire position: down 189,593 shares, a net position change of $5.02 million
No remaining shares held; post-trade stake is zero
The position previously accounted for approximately 1.9% of the fund’s AUM in the prior quarter
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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 (NASDAQ:VKTX)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.
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Adam Palasciano has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Centessa Pharmaceuticals Plc. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.
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