Viking Therapeutics, Inc. (NASDAQ:VKTX) Position Lifted by Braidwell LP

Braidwell LP grew its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,479,666 shares of the biotechnology company's stock after purchasing an additional 322,689 shares during the quarter. Viking Therapeutics makes up approximately 1.8% of Braidwell LP's holdings, making the stock its 22nd biggest holding. Braidwell LP owned about 1.33% of Viking Therapeutics worth $59,542,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VKTX. Norges Bank acquired a new stake in Viking Therapeutics during the fourth quarter valued at approximately $51,464,000. Massachusetts Financial Services Co. MA raised its position in shares of Viking Therapeutics by 446.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock valued at $54,615,000 after acquiring an additional 1,108,972 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Viking Therapeutics by 228.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock worth $59,540,000 after purchasing an additional 1,029,125 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Viking Therapeutics in the fourth quarter worth $24,888,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 valued at $15,099,000 after purchasing an additional 216,873 shares during the last quarter. Institutional investors own 76.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VKTX shares. Scotiabank initiated coverage on shares of Viking Therapeutics in a research report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price target on the stock. Truist Financial restated a "buy" rating and issued a $75.00 target price (down from $95.00) on shares of Viking Therapeutics in a research note on Monday, April 28th. B. Riley reissued a "buy" rating and issued a $96.00 price target (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. Morgan Stanley lowered their price objective on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Maxim Group cut 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. One equities research 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $87.15.

Insider Buying and Selling at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan bought 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, 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. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company's stock.

Viking Therapeutics Stock Up 0.4 %

VKTX opened at $29.49 on Tuesday. Viking Therapeutics, Inc. has a 12-month low of $18.92 and a 12-month high of $81.86. The firm has a market capitalization of $3.31 billion, a P/E ratio of -29.49 and a beta of 0.75. The stock has a fifty day moving average of $26.21 and a 200-day moving average of $38.78.

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 the consensus estimate of ($0.31) by ($0.10). The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. On average, analysts expect that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal 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.

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