Pictet Asset Management Holding SA Trims Position in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Pictet Asset Management Holding SA trimmed its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,237,093 shares of the biotechnology company’s stock after selling 124,417 shares during the period. Pictet Asset Management Holding SA’s holdings in Viking Therapeutics were worth $49,781,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Viking Therapeutics in the fourth quarter worth approximately $51,464,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Viking Therapeutics by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 728,652 shares of the biotechnology company’s stock worth $29,321,000 after acquiring an additional 13,055 shares during the last quarter. Principal Financial Group Inc. grew its position 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 valued at $25,301,000 after acquiring an additional 35,236 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Viking Therapeutics in the 4th quarter worth $24,888,000. Finally, Bank of New York Mellon Corp raised its holdings in Viking Therapeutics by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 462,964 shares of the biotechnology company’s stock worth $18,630,000 after purchasing an additional 41,400 shares during the period. 76.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related 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 value of $2,317,691.25. Following the completion of the sale, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Greg Zante sold 50,309 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $42.75, for a total value of $2,150,709.75. Following the transaction, the chief financial officer now owns 165,259 shares in the company, valued at $7,064,822.25. The trade was a 23.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,014 shares of company stock worth $12,782,849 in the last three months. Corporate insiders own 4.70% of the company’s stock.

Analyst Ratings Changes

VKTX has been the topic of a number of recent analyst reports. Citigroup started coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They set a “neutral” rating and a $38.00 price target on the stock. Piper Sandler reduced their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Maxim Group lowered 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 report on Friday, February 7th. Raymond James boosted their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Finally, B. Riley reaffirmed 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. One investment analyst has rated the stock with a sell rating, one has issued 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Viking Therapeutics Stock Down 1.8 %

VKTX opened at $25.65 on Friday. The business has a fifty day moving average of $30.29 and a 200 day moving average of $46.60. The stock has a market cap of $2.88 billion, a P/E ratio of -25.65 and a beta of 0.90. Viking Therapeutics, Inc. has a 52-week low of $24.41 and a 52-week high of $82.00.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results 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 in the previous year, the firm earned ($0.25) EPS. Equities analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Viking Therapeutics 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.