Pictet Asset Management Holding SA Sells 56,431 Shares of Viking Therapeutics, Inc. $VKTX

Pictet Asset Management Holding SA cut its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 696,301 shares of the biotechnology company’s stock after selling 56,431 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.60% of Viking Therapeutics worth $22,658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raleigh Capital Management Inc. lifted its holdings in shares of Viking Therapeutics by 58.0% in 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 during the last quarter. Quattro Advisors LLC bought a new stake in shares of Viking Therapeutics during the 4th quarter valued at approximately $37,000. Fifth Third Bancorp increased its position in Viking Therapeutics by 169.2% during the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 677 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Viking Therapeutics during the 4th quarter worth approximately $39,000. Finally, GAMMA Investing LLC lifted its stake in Viking Therapeutics by 71.0% in the 4th quarter. GAMMA Investing LLC now owns 1,195 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 496 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VKTX. Cantor Fitzgerald cut their target price on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley set a $95.00 price target on Viking Therapeutics in a research note on Thursday, April 30th. Lake Street Capital began coverage on Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 price objective on the stock. Wolfe Research began coverage on Viking Therapeutics in a research report on Thursday, March 26th. They set a “peer perform” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Viking Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $93.60.

Viking Therapeutics Trading Down 3.9%

Shares of NASDAQ VKTX opened at $37.48 on Thursday. The firm’s 50-day moving average price is $31.78 and its 200-day moving average price is $32.65. The firm has a market capitalization of $4.35 billion, a P/E ratio of -9.05 and a beta of 0.66. Viking Therapeutics, Inc. has a 1-year low of $22.96 and a 1-year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Thursday, April 30th. 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 period last year, the business earned ($0.41) earnings per share. Equities research analysts forecast that Viking Therapeutics, Inc. will post -4.7 EPS for the current year.

About Viking Therapeutics

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.