Thoroughbred Financial Services LLC Sells 16,051 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Thoroughbred Financial Services LLC cut its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 71.6% in the 4th quarter, HoldingsChannel reports. The fund owned 6,373 shares of the biotechnology company’s stock after selling 16,051 shares during the period. Thoroughbred Financial Services LLC’s holdings in Viking Therapeutics were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VKTX. Norges Bank acquired a new position in Viking Therapeutics during the 4th quarter valued at about $51,464,000. Massachusetts Financial Services Co. MA boosted its position in shares of Viking Therapeutics by 446.7% during 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 buying an additional 1,108,972 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Viking Therapeutics during the fourth quarter worth $24,888,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Viking Therapeutics by 137.0% in 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 during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Viking Therapeutics by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 593,528 shares of the biotechnology company’s stock valued at $37,576,000 after acquiring an additional 136,729 shares in the last quarter. 76.03% of the stock is owned by institutional investors.

Viking Therapeutics Price Performance

Shares of VKTX opened at $22.62 on Monday. The firm has a market cap of $2.54 billion, a PE ratio of -22.62 and a beta of 0.84. Viking Therapeutics, Inc. has a 1 year low of $20.20 and a 1 year high of $81.86. The stock’s fifty day moving average price is $29.32 and its two-hundred day moving average price is $45.06.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period in the previous year, the company posted ($0.25) EPS. Sell-side analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sarah Kathryn Rouan acquired 1,240 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $24.15 per share, with a total value of $29,946.00. Following the acquisition, the director now owns 1,240 shares of the company’s stock, valued at approximately $29,946. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VKTX has been the subject of several analyst reports. Citigroup initiated coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They issued a “neutral” rating and a $38.00 target price for the company. Maxim Group decreased their price objective on shares of Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Piper Sandler cut their target price on Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. B. Riley reaffirmed a “buy” rating and set a $96.00 price target (down from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. Finally, Raymond James boosted their price objective on Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.18.

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.