Rhenman & Partners Asset Management AB Reduces Stake in Viking Therapeutics, Inc. $VKTX

Rhenman & Partners Asset Management AB trimmed its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 61.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,000 shares of the biotechnology company’s stock after selling 133,288 shares during the quarter. Rhenman & Partners Asset Management AB owned approximately 0.07% of Viking Therapeutics worth $2,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. raised its position 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 valued at $33,000 after purchasing an additional 347 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Viking Therapeutics in the third quarter valued at approximately $38,000. Fifth Third Bancorp raised its position in shares of Viking Therapeutics by 169.3% in the fourth quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 677 shares during the period. Lodestone Wealth Management LLC bought a new stake in shares of Viking Therapeutics in the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC raised its position in shares of Viking Therapeutics by 71.0% in the fourth 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 period. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on VKTX. Lake Street Capital began coverage on shares of Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Monday, March 23rd. Truist Financial began coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price on the stock. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Wolfe Research began coverage on shares of Viking Therapeutics in a report on Thursday, March 26th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.60.

Viking Therapeutics Trading Up 0.5%

Viking Therapeutics stock opened at $28.75 on Friday. The firm’s 50 day simple moving average is $31.90 and its 200 day simple moving average is $32.87. The firm has a market capitalization of $3.34 billion, a PE ratio of -6.94 and a beta of 0.69. 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 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 company earned ($0.41) EPS. Research analysts forecast that Viking Therapeutics, Inc. will post -4.7 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.