Voya Investment Management LLC Decreases Stake in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Voya Investment Management LLC lessened its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 390,140 shares of the biotechnology company's stock after selling 283,999 shares during the period. Voya Investment Management LLC owned 0.35% of Viking Therapeutics worth $15,699,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Viking Therapeutics in the 4th quarter valued at $51,464,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Viking Therapeutics by 446.7% in the fourth 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. Raymond James Financial Inc. purchased a new position in Viking Therapeutics in the fourth quarter valued at about $24,888,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Viking Therapeutics by 137.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 375,222 shares of the biotechnology company's stock valued at $15,099,000 after buying an additional 216,873 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Viking Therapeutics by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 593,528 shares of the biotechnology company's stock worth $37,576,000 after purchasing an additional 136,729 shares in the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

Viking Therapeutics Trading Down 0.9 %

Shares of NASDAQ:VKTX traded down $0.26 during trading on Thursday, reaching $28.61. The stock had a trading volume of 3,453,730 shares, compared to its average volume of 4,094,458. The company has a market capitalization of $3.21 billion, a P/E ratio of -28.61 and a beta of 0.84. The firm's 50-day simple moving average is $26.17 and its 200 day simple moving average is $39.90. Viking Therapeutics, Inc. has a one year low of $18.92 and a one year high of $81.86.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted 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). Viking Therapeutics's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) EPS. Equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan acquired 1,240 shares of the firm's stock in a transaction on Monday, March 31st. The shares were acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the acquisition, the director now directly owns 1,240 shares in the company, valued at approximately $29,946. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VKTX shares. Raymond James raised their price target on Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. Morgan Stanley reduced their price target on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Truist Financial reaffirmed a "buy" rating and issued a $75.00 target price (down previously from $95.00) on shares of Viking Therapeutics in a research report on Monday. HC Wainwright reissued a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 24th. 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 target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Viking Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $87.15.

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.