State of New Jersey Common Pension Fund D Lowers Position in Viking Therapeutics, Inc. $VKTX

State of New Jersey Common Pension Fund D decreased its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 31.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,120 shares of the biotechnology company’s stock after selling 25,774 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Viking Therapeutics were worth $2,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VKTX. Golden State Wealth Management LLC bought a new stake in shares of Viking Therapeutics during the 3rd quarter valued at $30,000. Raleigh Capital Management Inc. boosted its stake in Viking Therapeutics by 58.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 347 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Viking Therapeutics during the third quarter valued at approximately $38,000. Lodestone Wealth Management LLC purchased a new stake in shares of Viking Therapeutics in the 4th quarter worth approximately $39,000. Finally, GAMMA Investing LLC raised its stake in Viking Therapeutics by 71.0% during the fourth quarter. GAMMA Investing LLC now owns 1,195 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VKTX. BTIG Research reissued a “buy” rating and issued a $125.00 target price on shares of Viking Therapeutics in a research note on Friday, May 1st. Morgan Stanley set a $95.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 30th. Truist Financial upgraded shares of Viking Therapeutics to a “strong-buy” rating in a report on Monday, April 27th. Cantor Fitzgerald reduced their price target on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Insider Activity

In other news, insider Neil William Aubuchon acquired 4,475 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $33.50 per share, with a total value of $149,912.50. Following the completion of the acquisition, the insider directly owned 4,475 shares of the company’s stock, valued at approximately $149,912.50. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by company insiders.

Viking Therapeutics Stock Performance

Shares of NASDAQ:VKTX opened at $31.33 on Monday. The business has a 50-day simple moving average of $33.55 and a two-hundred day simple moving average of $33.96. Viking Therapeutics, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $43.15. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -7.57 and a beta of 0.72.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same quarter in the prior year, the company posted ($0.41) EPS. As a group, research analysts predict that Viking Therapeutics, Inc. will post -4.56 earnings per share for the current year.

Viking Therapeutics Profile

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non?alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company’s lead programs include VK2809, a thyroid hormone receptor?beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.