Janus Henderson Group PLC lessened its position in shares of Viking Therapeutics Inc (NASDAQ:VKTX) by 56.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 891,442 shares of the biotechnology company’s stock after selling 1,168,844 shares during the quarter. Janus Henderson Group PLC owned approximately 1.47% of Viking Therapeutics worth $15,529,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in shares of Viking Therapeutics by 12.0% in the third quarter. Wells Fargo & Company MN now owns 65,810 shares of the biotechnology company’s stock valued at $1,146,000 after purchasing an additional 7,037 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of Viking Therapeutics in the third quarter valued at about $131,000. Janney Montgomery Scott LLC acquired a new stake in shares of Viking Therapeutics in the second quarter valued at about $114,000. Strs Ohio acquired a new stake in shares of Viking Therapeutics in the second quarter valued at about $120,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Viking Therapeutics in the second quarter valued at about $129,000. Institutional investors own 59.81% of the company’s stock.
VKTX has been the topic of several research analyst reports. Roth Capital lifted their target price on shares of Viking Therapeutics from $13.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 19th. Raymond James set a $43.00 target price on shares of Viking Therapeutics and gave the company a “buy” rating in a research report on Wednesday, September 19th. Maxim Group reiterated a “buy” rating and issued a $28.00 target price (up previously from $14.00) on shares of Viking Therapeutics in a research report on Tuesday, September 18th. HC Wainwright set a $31.00 target price on shares of Viking Therapeutics and gave the company a “buy” rating in a research report on Monday, October 1st. Finally, William Blair reiterated a “market perform” rating on shares of Viking Therapeutics in a research report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $28.00.
In related news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $19.15, for a total transaction of $5,034,171.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.90% of the company’s stock.
VKTX opened at $9.63 on Friday. The stock has a market cap of $733.18 million, a P/E ratio of -12.19 and a beta of 2.85. Viking Therapeutics Inc has a twelve month low of $3.60 and a twelve month high of $24.00.
Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Friday, November 9th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Analysts anticipate that Viking Therapeutics Inc will post -0.42 EPS for the current fiscal year.
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About Viking Therapeutics
Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.
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