Bellevue Group AG reduced its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) by 69.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,400 shares of the biotechnology company’s stock after selling 12,100 shares during the period. Bellevue Group AG’s holdings in Viking Therapeutics were worth $443,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in VKTX. Avoro Capital Advisors LLC bought a new position in Viking Therapeutics during the first quarter worth about $294,380,000. Vanguard Group Inc. boosted its stake in Viking Therapeutics by 44.7% during the 1st quarter. Vanguard Group Inc. now owns 7,785,724 shares of the biotechnology company’s stock worth $638,429,000 after acquiring an additional 2,403,820 shares during the last quarter. Perpetual Ltd acquired a new position in Viking Therapeutics during the first quarter valued at approximately $78,586,000. Hood River Capital Management LLC bought a new stake in Viking Therapeutics in the first quarter valued at approximately $55,098,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Viking Therapeutics during the fourth quarter worth $12,341,000. 76.03% of the stock is owned by institutional investors and hedge funds.
Viking Therapeutics Price Performance
Viking Therapeutics stock traded down $4.55 during mid-day trading on Monday, hitting $61.43. 3,672,399 shares of the company’s stock traded hands, compared to its average volume of 4,842,639. Viking Therapeutics, Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $99.41. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of -66.49 and a beta of 1.03. The firm has a 50 day simple moving average of $55.72 and a two-hundred day simple moving average of $56.70.
Wall Street Analysts Forecast Growth
VKTX has been the topic of several recent analyst reports. Raymond James lifted their target price on Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and set a $120.00 price objective on shares of Viking Therapeutics in a report on Monday, June 17th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Viking Therapeutics in a research note on Thursday. Morgan Stanley assumed coverage on Viking Therapeutics in a research report on Thursday, June 27th. They set an “overweight” rating and a $105.00 price target for the company. Finally, StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.78.
View Our Latest Stock Analysis on Viking Therapeutics
Insider Buying and Selling
In other Viking Therapeutics news, COO Marianna Mancini sold 281,425 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the transaction, the chief operating officer now owns 348,508 shares in the company, valued at approximately $27,413,639.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Marianna Mancini sold 281,425 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the transaction, the chief operating officer now directly owns 348,508 shares of the company’s stock, valued at $27,413,639.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Greg Zante sold 66,756 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $74.69, for a total value of $4,986,005.64. Following the completion of the sale, the chief financial officer now owns 174,854 shares of the company’s stock, valued at $13,059,845.26. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.
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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