BNP Paribas Financial Markets Cuts Stock Holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX)

BNP Paribas Financial Markets cut its position in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,701 shares of the biotechnology company's stock after selling 40,011 shares during the quarter. BNP Paribas Financial Markets' holdings in Viking Therapeutics were worth $1,879,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Viking Therapeutics in the fourth quarter worth about $51,464,000. Massachusetts Financial Services Co. MA boosted its holdings in Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock worth $54,615,000 after buying an additional 1,108,972 shares during the period. Ameriprise Financial Inc. grew its stake in Viking Therapeutics by 228.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock valued at $59,540,000 after buying an additional 1,029,125 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Viking Therapeutics during the 4th quarter valued at $24,888,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Viking Therapeutics by 137.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 375,222 shares of the biotechnology company's stock worth $15,099,000 after acquiring an additional 216,873 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Insider Buying and Selling

In other Viking Therapeutics news, Director Sarah Kathryn Rouan purchased 1,240 shares of Viking Therapeutics stock in a transaction on Monday, March 31st. The shares were acquired at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the transaction, the director now directly owns 1,240 shares of the company's stock, valued at approximately $29,946. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VKTX shares. B. Riley reiterated a "buy" rating and issued a $96.00 price target (down from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. HC Wainwright restated a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a research note on Thursday, April 24th. The Goldman Sachs Group initiated coverage on Viking Therapeutics in a research report on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target on the stock. Truist Financial reissued a "buy" rating and issued a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. Finally, Scotiabank began coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They set a "sector outperform" rating and a $102.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.15.

Viking Therapeutics Stock Down 5.0%

Shares of NASDAQ VKTX traded down $1.42 during mid-day trading on Wednesday, reaching $27.25. 2,521,685 shares of the company were exchanged, compared to its average volume of 4,080,675. Viking Therapeutics, Inc. has a 52 week low of $18.92 and a 52 week high of $81.73. The company's 50 day moving average price is $26.09 and its 200 day moving average price is $35.74. The stock has a market capitalization of $3.06 billion, a PE ratio of -27.25 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same period in the previous year, the company earned ($0.26) earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Viking Therapeutics Profile

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.