Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 25.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,592 shares of the biotechnology company's stock after selling 47,576 shares during the quarter. California Public Employees Retirement System owned approximately 0.12% of Viking Therapeutics worth $5,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Viking Therapeutics in the fourth quarter valued at approximately $51,464,000. Charles Schwab Investment Management Inc. raised its stake in Viking Therapeutics by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 728,652 shares of the biotechnology company's stock worth $29,321,000 after purchasing an additional 13,055 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Viking Therapeutics by 5.9% during the 4th quarter. Principal Financial Group Inc. now owns 628,764 shares of the biotechnology company's stock worth $25,301,000 after purchasing an additional 35,236 shares in the last quarter. Raymond James Financial Inc. bought a new position in Viking Therapeutics in the fourth quarter valued at approximately $24,888,000. Finally, Bank of New York Mellon Corp raised its stake in Viking Therapeutics by 9.8% during the fourth quarter. Bank of New York Mellon Corp now owns 462,964 shares of the biotechnology company's stock worth $18,630,000 after acquiring an additional 41,400 shares in the last quarter. Institutional investors own 76.03% of the company's stock.

Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX traded up $0.70 during mid-day trading on Friday, reaching $22.22. 2,962,262 shares of the company traded hands, compared to its average volume of 3,982,300. The firm has a market cap of $2.49 billion, a PE ratio of -22.22 and a beta of 0.84. Viking Therapeutics, Inc. has a 52 week low of $18.92 and a 52 week high of $81.86. The company's 50 day moving average price is $27.71 and its 200-day moving average price is $43.20.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same period in the previous year, the company earned ($0.25) earnings per share. On average, research analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

VKTX has been the topic of a number of analyst reports. Maxim Group reduced 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. Citigroup initiated coverage on Viking Therapeutics in a research note on Friday, February 7th. They issued a "neutral" rating and a $38.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Wednesday, March 26th. Scotiabank began coverage on Viking Therapeutics in a research note on Thursday, February 13th. They set a "sector outperform" rating and a $102.00 price objective on the stock. Finally, B. Riley reaffirmed a "buy" rating and issued a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Viking Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.

Insider Activity at Viking Therapeutics

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the purchase, the director now directly owns 1,240 shares of the company's stock, valued at approximately $29,946. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.70% of the stock is currently owned by company insiders.

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.