Allspring Global Investments Holdings LLC cut its holdings in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) by 93.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,670 shares of the biotechnology company’s stock after selling 54,566 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Viking Therapeutics were worth $195,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in VKTX. Massmutual Trust Co. FSB ADV bought a new stake in shares of Viking Therapeutics in the first quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viking Therapeutics during the 2nd quarter worth $27,000. Lindbrook Capital LLC increased its position in shares of Viking Therapeutics by 370.7% in the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 278 shares during the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Viking Therapeutics in the 1st quarter valued at about $37,000. Finally, Spire Wealth Management bought a new position in shares of Viking Therapeutics during the first quarter worth about $61,000. 76.03% of the stock is owned by institutional investors and hedge funds.
Viking Therapeutics Stock Down 2.3 %
Viking Therapeutics stock opened at $54.13 on Friday. Viking Therapeutics, Inc. has a 52-week low of $8.28 and a 52-week high of $99.41. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -58.20 and a beta of 1.00. The firm has a 50-day moving average price of $57.18 and a two-hundred day moving average price of $63.46.
Wall Street Analysts Forecast Growth
VKTX has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Viking Therapeutics in a research note on Thursday, July 25th. Truist Financial reissued a “buy” rating and set a $120.00 price target on shares of Viking Therapeutics in a research report on Monday, June 17th. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley assumed coverage on shares of Viking Therapeutics in a report on Thursday, June 27th. They set an “overweight” rating and a $105.00 target price on the stock. Finally, Raymond James lifted their price target on shares of Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.78.
Read Our Latest Stock Analysis on Viking Therapeutics
Insider Transactions at Viking Therapeutics
In related news, CEO Brian Lian sold 1,000 shares of Viking Therapeutics stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.90, for a total transaction of $69,900.00. Following the sale, the chief executive officer now directly owns 2,354,927 shares in the company, valued at $164,609,397.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Viking Therapeutics news, Director J Matthew Singleton sold 20,786 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.53, for a total transaction of $1,195,818.58. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $546,535. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Lian sold 1,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.90, for a total value of $69,900.00. Following the transaction, the chief executive officer now directly owns 2,354,927 shares of the company’s stock, valued at $164,609,397.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,241 shares of company stock valued at $17,786,475. 4.70% of the stock is currently owned by corporate 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.
Further Reading
- Five stocks we like better than Viking Therapeutics
- The 3 Best Retail Stocks to Shop for in August
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- 5 discounted opportunities for dividend growth investors
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Want to see what other hedge funds are holding VKTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report).
Receive News & Ratings for Viking Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viking Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.