Hollencrest Capital Management Cuts Stock Holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX)

Hollencrest Capital Management cut its stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) by 42.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,425 shares of the biotechnology company’s stock after selling 1,034 shares during the period. Hollencrest Capital Management’s holdings in Viking Therapeutics were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Viking Therapeutics during the fourth quarter worth about $24,888,000. Eventide Asset Management LLC increased its position in Viking Therapeutics by 79.1% during the 3rd quarter. Eventide Asset Management LLC now owns 452,969 shares of the biotechnology company’s stock worth $28,677,000 after purchasing an additional 200,000 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Viking Therapeutics by 18.3% in the third quarter. Westfield Capital Management Co. LP now owns 930,370 shares of the biotechnology company’s stock valued at $58,902,000 after buying an additional 143,675 shares during the period. Principal Financial Group Inc. lifted its position in Viking Therapeutics by 29.9% during the third quarter. Principal Financial Group Inc. now owns 593,528 shares of the biotechnology company’s stock valued at $37,576,000 after buying an additional 136,729 shares in the last quarter. Finally, Sphera Funds Management LTD. acquired a new position in Viking Therapeutics during the third quarter valued at approximately $8,424,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Price Performance

Shares of VKTX stock opened at $29.55 on Thursday. The firm has a fifty day moving average of $32.66 and a two-hundred day moving average of $49.20. The firm has a market cap of $3.32 billion, a P/E ratio of -29.55 and a beta of 0.90. Viking Therapeutics, Inc. has a 1-year low of $24.41 and a 1-year high of $89.10.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period last year, the business posted ($0.25) earnings per share. On average, sell-side analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VKTX. Raymond James raised their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. William Blair restated an “outperform” rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. Piper Sandler dropped their target price on Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Citigroup began coverage on Viking Therapeutics in a report on Friday, February 7th. They issued a “neutral” rating and a $38.00 price target for the company. Finally, B. Riley reiterated a “buy” rating and set a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.31.

Insider Transactions at Viking Therapeutics

In other news, CEO Brian Lian sold 194,490 shares of Viking Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $8,314,447.50. Following the completion of the transaction, the chief executive officer now directly owns 2,366,570 shares of the company’s stock, valued at approximately $101,170,867.50. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Marianna Mancini sold 54,215 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the sale, the chief operating officer now owns 374,134 shares in the company, valued at approximately $15,994,228.50. This trade represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,014 shares of company stock worth $12,782,849. 4.70% of the stock is currently owned by corporate insiders.

About Viking Therapeutics

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.