Rhenman & Partners Asset Management AB Decreases Stake in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Rhenman & Partners Asset Management AB reduced its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the biotechnology company's stock after selling 12,500 shares during the period. Rhenman & Partners Asset Management AB owned about 0.08% of Viking Therapeutics worth $3,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC purchased a new stake in shares of Viking Therapeutics during the 3rd quarter worth about $884,000. Bank of Montreal Can grew its stake 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 valued at $2,173,000 after acquiring an additional 29,819 shares during the period. The Manufacturers Life Insurance Company increased its holdings 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 worth $1,559,000 after acquiring an additional 4,156 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Viking Therapeutics by 109.1% during the third quarter. Rockefeller Capital Management L.P. now owns 34,023 shares of the biotechnology company's stock worth $2,154,000 after acquiring an additional 17,754 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in Viking Therapeutics by 80.6% during the third quarter. Verition Fund Management LLC now owns 7,721 shares of the biotechnology company's stock valued at $489,000 after purchasing an additional 3,446 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company's stock.

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Insiders Place Their Bets

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 purchased at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.70% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VKTX. Citigroup started coverage on shares of Viking Therapeutics in a research report on Friday, February 7th. They set a "neutral" rating and a $38.00 price target for the company. The Goldman Sachs Group started coverage on Viking Therapeutics in a research note on Tuesday. They set a "neutral" rating and a $30.00 price objective on the stock. B. Riley restated a "buy" rating and set a $96.00 price target (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. Maxim Group decreased their target price on shares of Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Scotiabank assumed coverage on Viking Therapeutics in a report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

Viking Therapeutics Stock Up 2.3 %

Shares of VKTX traded up $0.45 during trading hours on Wednesday, reaching $20.43. 2,284,375 shares of the company traded hands, compared to its average volume of 3,943,001. The stock has a market capitalization of $2.29 billion, a PE ratio of -20.40 and a beta of 0.84. The stock has a fifty day simple moving average of $28.52 and a 200 day simple moving average of $44.21. Viking Therapeutics, Inc. has a fifty-two week low of $18.95 and a fifty-two week high of $81.86.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same period last year, the firm posted ($0.25) EPS. Research analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

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.