Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Sold by Bellevue Group AG

Bellevue Group AG decreased its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 69.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,400 shares of the biotechnology company’s stock after selling 12,100 shares during the period. Bellevue Group AG’s holdings in Viking Therapeutics were worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Viking Therapeutics by 44.7% in the first quarter. Vanguard Group Inc. now owns 7,785,724 shares of the biotechnology company’s stock valued at $638,429,000 after purchasing an additional 2,403,820 shares in the last quarter. Avoro Capital Advisors LLC purchased a new stake in Viking Therapeutics in the 1st quarter valued at $294,380,000. Wasatch Advisors LP raised its holdings in shares of Viking Therapeutics by 32.4% during the 4th quarter. Wasatch Advisors LP now owns 1,274,945 shares of the biotechnology company’s stock worth $23,727,000 after acquiring an additional 311,681 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Viking Therapeutics by 88.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,119,885 shares of the biotechnology company’s stock valued at $20,841,000 after purchasing an additional 525,296 shares during the period. Finally, Perpetual Ltd acquired a new position in Viking Therapeutics in the 1st quarter valued at about $78,586,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Viking Therapeutics Price Performance

Shares of VKTX stock traded down $4.55 during trading hours on Monday, reaching $61.43. 3,672,399 shares of the stock were exchanged, compared to its average volume of 4,842,639. Viking Therapeutics, Inc. has a 12-month low of $8.28 and a 12-month high of $99.41. The business’s fifty day moving average is $55.72 and its two-hundred day moving average is $56.70. The firm has a market capitalization of $6.81 billion, a P/E ratio of -66.49 and a beta of 1.03.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. During the same quarter last year, the business earned ($0.19) earnings per share. As a group, equities research analysts predict that Viking Therapeutics, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In other news, COO Marianna Mancini sold 281,425 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $78.66, for a total value of $22,136,890.50. Following the transaction, the chief operating officer now owns 348,508 shares in the company, valued at approximately $27,413,639.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Greg Zante sold 66,756 shares of Viking Therapeutics stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total value of $4,986,005.64. Following the transaction, the chief financial officer now directly owns 174,854 shares of the company’s stock, valued at approximately $13,059,845.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 281,425 shares of Viking Therapeutics stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the completion of the transaction, the chief operating officer now owns 348,508 shares in the company, valued at $27,413,639.28. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VKTX. Raymond James raised their price target on shares of Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a report on Thursday. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Viking Therapeutics in a report on Thursday. Morgan Stanley started coverage on Viking Therapeutics in a research report on Thursday, June 27th. They set an “overweight” rating and a $105.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a research report on Monday, June 17th. Finally, Maxim Group restated a “buy” rating and issued a $120.00 price objective on shares of Viking Therapeutics in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.78.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.