Viking Therapeutics, Inc. (NASDAQ:VKTX) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 89.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,575 shares of the biotechnology company's stock after selling 58,505 shares during the period. Cinctive Capital Management LP's holdings in Viking Therapeutics were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Cerity Partners LLC purchased a new stake in shares of Viking Therapeutics during the third quarter valued at approximately $884,000. Bank of Montreal Can lifted its holdings in Viking Therapeutics by 548.8% in the 3rd quarter. Bank of Montreal Can now owns 35,252 shares of the biotechnology company's stock worth $2,173,000 after buying an additional 29,819 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Viking Therapeutics by 20.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,630 shares of the biotechnology company's stock valued at $1,559,000 after buying an additional 4,156 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Viking Therapeutics during the third quarter valued at about $243,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Viking Therapeutics by 2.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,823 shares of the biotechnology company's stock worth $1,445,000 after acquiring an additional 646 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on VKTX. B. Riley reissued a "buy" rating and issued a $96.00 price target (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. HC Wainwright reiterated a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research note on Wednesday, March 26th. Piper Sandler decreased 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. Scotiabank assumed coverage on shares of Viking Therapeutics in a report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price target on the stock. Finally, 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 report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $95.18.

Viking Therapeutics Trading Down 6.6 %

NASDAQ VKTX traded down $1.60 during trading hours on Friday, reaching $22.62. The company's stock had a trading volume of 6,563,849 shares, compared to its average volume of 3,926,986. The business has a 50-day simple moving average of $29.32 and a 200 day simple moving average of $45.20. Viking Therapeutics, Inc. has a 52 week low of $21.53 and a 52 week high of $81.86. The stock has a market cap of $2.54 billion, a PE ratio of -22.62 and a beta of 0.84.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same quarter last year, the business posted ($0.25) earnings per share. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other news, COO Marianna Mancini sold 54,215 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the completion of the transaction, the chief operating officer now directly owns 374,134 shares in the company, valued at approximately $15,994,228.50. The trade was a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sarah Kathryn Rouan bought 1,240 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the transaction, the director now owns 1,240 shares in the company, valued at $29,946. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 299,014 shares of company stock valued at $12,782,849 in the last ninety days. Company insiders own 4.70% of the company's stock.

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.