Comerica Bank decreased its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 69.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,061 shares of the biotechnology company's stock after selling 137,322 shares during the quarter. Comerica Bank owned approximately 0.05% of Viking Therapeutics worth $2,417,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Viking Therapeutics in the fourth quarter worth $1,715,000. Institute for Wealth Management LLC. raised its position in Viking Therapeutics by 122.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 80,602 shares of the biotechnology company's stock worth $3,243,000 after purchasing an additional 44,365 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Viking Therapeutics by 103.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 42,612 shares of the biotechnology company's stock worth $1,715,000 after purchasing an additional 21,627 shares during the last quarter. Wesbanco Bank Inc. bought a new position in Viking Therapeutics in the fourth quarter valued at approximately $475,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Viking Therapeutics in the 4th quarter worth $528,000. Institutional investors own 76.03% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on VKTX. Citigroup initiated coverage on Viking Therapeutics in a report on Friday, February 7th. They issued a "neutral" rating and a $38.00 price target on the stock. B. Riley restated a "buy" rating and set a $96.00 price objective (down from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. Raymond James boosted their price target on Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a report on Thursday, February 6th. Maxim Group cut their price objective on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Scotiabank began coverage on shares of Viking Therapeutics in a research report on Thursday, February 13th. They set a "sector outperform" rating and a $102.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.15.
Get Our Latest Analysis on Viking Therapeutics
Viking Therapeutics Stock Down 3.8%
NASDAQ:VKTX traded down $1.05 during trading hours on Wednesday, reaching $26.69. 1,174,921 shares of the stock were exchanged, compared to its average volume of 4,098,464. The business has a 50-day moving average of $26.17 and a two-hundred day moving average of $37.32. Viking Therapeutics, Inc. has a twelve month low of $18.92 and a twelve month high of $81.73. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -26.69 and a beta of 0.75.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same period last year, the business earned ($0.26) earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Sarah Kathryn Rouan purchased 1,240 shares of Viking Therapeutics stock in a transaction that occurred on Monday, March 31st. The shares were purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now owns 1,240 shares of the company's stock, valued at approximately $29,946. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is owned by company insiders.
Viking Therapeutics Company Profile
(
Free Report)
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.
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