Granahan Investment Management LLC Lowers Holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Granahan Investment Management LLC decreased its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 6.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 305,586 shares of the biotechnology company's stock after selling 19,701 shares during the period. Granahan Investment Management LLC owned 0.27% of Viking Therapeutics worth $12,297,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Viking Therapeutics by 29.9% during the third quarter. Principal Financial Group Inc. now owns 593,528 shares of the biotechnology company's stock valued at $37,576,000 after buying an additional 136,729 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Viking Therapeutics during the 4th quarter worth $92,000. Salem Investment Counselors Inc. boosted its position in Viking Therapeutics by 557.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 3,289 shares of the biotechnology company's stock valued at $132,000 after purchasing an additional 2,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Viking Therapeutics by 600.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,500 shares of the biotechnology company's stock valued at $141,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Wolff Wiese Magana LLC bought a new position in Viking Therapeutics in the fourth quarter worth about $75,000. Institutional investors own 76.03% of the company's stock.

Insiders Place Their Bets

In related news, Director Sarah Kathryn Rouan acquired 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, for a total transaction 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 SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on VKTX. The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price target on the stock. Maxim Group dropped their target price 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. Truist Financial reiterated a "buy" rating and issued a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a research note on Monday, April 28th. HC Wainwright restated a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research note on Thursday, April 24th. Finally, Scotiabank began coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 target price 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 given a strong buy rating to the stock. According to MarketBeat.com, Viking Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $87.15.

Viking Therapeutics Trading Up 1.2%

VKTX traded up $0.32 on Thursday, reaching $26.89. The stock had a trading volume of 1,320,965 shares, compared to its average volume of 4,107,621. Viking Therapeutics, Inc. has a 12-month low of $18.92 and a 12-month high of $81.73. The business's 50-day moving average price is $26.12 and its two-hundred day moving average price is $37.24. The company has a market cap of $3.02 billion, a P/E ratio of -26.91 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.26) EPS. As a group, 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.