Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 85.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,569 shares of the biotechnology company's stock after selling 417,300 shares during the quarter. Fred Alger Management LLC owned approximately 0.06% of Viking Therapeutics worth $2,880,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VKTX. Virtu Financial LLC bought a new stake in shares of Viking Therapeutics in the 4th quarter worth approximately $1,715,000. Institute for Wealth Management LLC. lifted its position in Viking Therapeutics by 122.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 80,602 shares of the biotechnology company's stock valued at $3,243,000 after purchasing an additional 44,365 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Viking Therapeutics by 103.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 42,612 shares of the biotechnology company's stock worth $1,715,000 after buying an additional 21,627 shares during the period. Wesbanco Bank Inc. acquired a new position in Viking Therapeutics during the 4th quarter worth $475,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Viking Therapeutics in the 4th quarter valued at about $528,000. Institutional investors own 76.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VKTX. Maxim Group lowered their price target on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Piper Sandler reduced their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. B. Riley restated a "buy" rating and set a $96.00 price objective (down from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. Cantor Fitzgerald upgraded shares of Viking Therapeutics to a "strong-buy" rating in a report on Tuesday, April 29th. Finally, Truist Financial restated a "buy" rating and issued a $75.00 price objective (down previously from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $87.15.

Insider Buying and Selling

In other news, Director Sarah Kathryn Rouan bought 1,240 shares of Viking Therapeutics stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the transaction, the director now directly owns 1,240 shares in the company, valued at $29,946. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is owned by company insiders.

Viking Therapeutics Trading Down 0.9 %

VKTX opened at $27.61 on Friday. Viking Therapeutics, Inc. has a 1-year low of $18.92 and a 1-year high of $81.73. The business has a 50 day moving average of $26.19 and a 200-day moving average of $38.13. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -27.61 and a beta of 0.75.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same period in the prior year, the business posted ($0.26) EPS. The firm's quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Viking Therapeutics Company 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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