Harbor Capital Advisors Inc. Has $2.78 Million Holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Harbor Capital Advisors Inc. decreased its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,189 shares of the biotechnology company's stock after selling 14,094 shares during the quarter. Harbor Capital Advisors Inc. owned 0.10% of Viking Therapeutics worth $2,782,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wesbanco Bank Inc. grew its position in Viking Therapeutics by 101.7% in the 1st quarter. Wesbanco Bank Inc. now owns 23,800 shares of the biotechnology company's stock valued at $575,000 after buying an additional 12,000 shares in the last quarter. Principia Wealth Advisory LLC lifted its stake in shares of Viking Therapeutics by 10.5% in the 1st quarter. Principia Wealth Advisory LLC now owns 6,478 shares of the biotechnology company's stock worth $150,000 after acquiring an additional 616 shares during the period. RFG Advisory LLC bought a new position in shares of Viking Therapeutics in the first quarter valued at approximately $958,000. NBC Securities Inc. increased its stake in shares of Viking Therapeutics by 222,100.0% during the first quarter. NBC Securities Inc. now owns 2,222 shares of the biotechnology company's stock valued at $53,000 after acquiring an additional 2,221 shares during the period. Finally, Future Financial Wealth Managment LLC raised its holdings in Viking Therapeutics by 1,242.9% during the first quarter. Future Financial Wealth Managment LLC now owns 2,350 shares of the biotechnology company's stock worth $57,000 after purchasing an additional 2,175 shares in the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upgraded Viking Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Truist Financial restated a "buy" rating and set a $75.00 price objective (down previously from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. The Goldman Sachs Group started coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.15.

Viking Therapeutics Stock Down 8.7%

Shares of Viking Therapeutics stock traded down $2.48 during midday trading on Friday, hitting $26.10. The company's stock had a trading volume of 3,891,445 shares, compared to its average volume of 4,055,041. The stock has a 50-day simple moving average of $26.34 and a 200-day simple moving average of $32.37. The firm has a market capitalization of $2.93 billion, a P/E ratio of -26.01 and a beta of 0.65. Viking Therapeutics, Inc. has a 1-year low of $18.92 and a 1-year high of $81.73.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). During the same quarter in the prior year, the business earned ($0.26) EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan acquired 1,240 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the acquisition, the director now owns 1,240 shares in the company, valued at approximately $29,946. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company's stock.

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.