Truist Financial Corp Sells 525 Shares of Viking Therapeutics, Inc. $VKTX

Truist Financial Corp cut its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,832 shares of the biotechnology company’s stock after selling 525 shares during the period. Truist Financial Corp’s holdings in Viking Therapeutics were worth $208,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quarry LP increased its stake in shares of Viking Therapeutics by 1,621.4% in the first quarter. Quarry LP now owns 1,205 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 1,135 shares during the period. Parallel Advisors LLC increased its stake in shares of Viking Therapeutics by 33.4% in the second quarter. Parallel Advisors LLC now owns 1,818 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 455 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Viking Therapeutics by 571.4% in the second quarter. Farther Finance Advisors LLC now owns 2,041 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 1,737 shares during the period. Flaharty Asset Management LLC bought a new position in Viking Therapeutics during the first quarter valued at about $56,000. Finally, JNBA Financial Advisors bought a new position in Viking Therapeutics during the first quarter valued at about $56,000. 76.03% of the stock is currently owned by institutional investors.

Viking Therapeutics Price Performance

Shares of VKTX opened at $33.53 on Friday. The company has a market capitalization of $3.77 billion, a P/E ratio of -21.92 and a beta of 0.64. Viking Therapeutics, Inc. has a one year low of $18.92 and a one year high of $81.73. The business’s 50 day simple moving average is $29.23 and its 200-day simple moving average is $28.39.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, July 23rd. The biotechnology company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.14). During the same period last year, the business earned ($0.20) earnings per share. Viking Therapeutics’s revenue was up NaN% compared to the same quarter last year. On average, sell-side analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on VKTX. BTIG Research restated a “buy” rating and set a $125.00 price target on shares of Viking Therapeutics in a research note on Monday, September 22nd. Citigroup boosted their price target on Viking Therapeutics from $31.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Raymond James Financial lowered their price target on Viking Therapeutics from $125.00 to $122.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 24th. HC Wainwright restated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research note on Monday, September 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.42.

Viking Therapeutics Profile

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.