Hsbc Holdings PLC Sells 9,437 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Hsbc Holdings PLC reduced its position in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 61.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,849 shares of the biotechnology company's stock after selling 9,437 shares during the quarter. Hsbc Holdings PLC's holdings in Viking Therapeutics were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Viking Therapeutics by 29.9% in 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 bought a new position in shares of Viking Therapeutics in the 4th quarter worth $92,000. Salem Investment Counselors Inc. grew its stake in shares of Viking Therapeutics by 557.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 3,289 shares of the biotechnology company's stock worth $132,000 after purchasing an additional 2,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 acquired a new position in Viking Therapeutics in the fourth quarter valued at about $75,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup started coverage on Viking Therapeutics in a research report on Friday, February 7th. They set a "neutral" rating and a $38.00 target price for the company. Raymond James upped their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 6th. Morgan Stanley reduced 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. HC Wainwright restated a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Viking Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $87.15.

Insider Activity at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan purchased 1,240 shares of the stock in a transaction on Monday, March 31st. The shares were purchased at an average price of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now directly owns 1,240 shares of the company's stock, valued at $29,946. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by company insiders.

Viking Therapeutics Stock Down 0.9 %

Shares of VKTX opened at $27.61 on Friday. Viking Therapeutics, Inc. has a twelve month low of $18.92 and a twelve month high of $81.73. The stock has a market capitalization of $3.10 billion, a P/E ratio of -27.61 and a beta of 0.75. The company has a 50 day moving average of $26.19 and a 200-day moving average of $37.98.

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

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.

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