Geo Capital Gestora de Recursos Ltd decreased its holdings in Novo Nordisk A/S by 8.2% in the first quarter, selling 5,826 shares. The fund retains 65,515 shares, demonstrating continued confidence in the pharmaceutical company despite the latest change.

Viking Therapeutics’ experimental pill helped patients lose 12.2 % of their body weight in just 13 weeks—better than Eli Lilly’s latest effort but still shy of Novo Nordisk’s own results. Yet it was Novo Nordisk’s shares that “popped,” underscoring how the race for obesity drugs can move markets in unexpected ways.