Handelsbanken Fonder AB Trims Stake in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Handelsbanken Fonder AB lessened its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 80.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,800 shares of the biotechnology company's stock after selling 147,600 shares during the quarter. Handelsbanken Fonder AB's holdings in Viking Therapeutics were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in Viking Therapeutics by 58.0% during the 4th quarter. Van ECK Associates Corp now owns 14,911 shares of the biotechnology company's stock valued at $600,000 after buying an additional 5,475 shares in the last quarter. Blue Trust Inc. lifted its stake in Viking Therapeutics by 363.1% in the fourth quarter. Blue Trust Inc. now owns 1,885 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 1,478 shares during the period. Montag A & Associates Inc. grew its holdings in Viking Therapeutics by 8.0% during the 4th quarter. Montag A & Associates Inc. now owns 10,901 shares of the biotechnology company's stock worth $439,000 after acquiring an additional 807 shares in the last quarter. Quantum Private Wealth LLC increased its position in Viking Therapeutics by 2.2% during the 4th quarter. Quantum Private Wealth LLC now owns 85,916 shares of the biotechnology company's stock valued at $3,457,000 after purchasing an additional 1,832 shares during the period. Finally, MN Wealth Advisors LLC bought a new stake in shares of Viking Therapeutics in the 4th quarter valued at about $237,000. Hedge funds and other institutional investors own 76.03% of the company's stock.

Wall Street Analyst Weigh In

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

Viking Therapeutics Trading Down 0.6%

Shares of NASDAQ VKTX traded down $0.15 during midday trading on Thursday, reaching $26.28. The company had a trading volume of 2,277,951 shares, compared to its average volume of 4,053,633. Viking Therapeutics, Inc. has a 1 year low of $18.92 and a 1 year high of $81.73. The business's 50-day simple moving average is $26.73 and its 200 day simple moving average is $31.61. The stock has a market cap of $2.95 billion, a P/E ratio of -22.85 and a beta of 0.65.

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 period in the prior year, the firm posted ($0.26) earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. Analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In other Viking Therapeutics news, Director Sarah Kathryn Rouan acquired 1,240 shares of the business's stock in a transaction dated Monday, March 31st. The shares were purchased at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the purchase, the director now directly owns 1,240 shares of the company's stock, valued at $29,946. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company's stock.

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.