Viking Therapeutics (NASDAQ:VKTX) Trading Down 1% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) fell 1% during mid-day trading on Thursday . The company traded as low as $53.88 and last traded at $54.51. 1,186,695 shares traded hands during trading, a decline of 74% from the average session volume of 4,518,137 shares. The stock had previously closed at $55.06.

Wall Street Analyst Weigh In

VKTX has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and issued a $105.00 target price on shares of Viking Therapeutics in a research note on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and set a $138.00 price objective on shares of Viking Therapeutics in a report on Wednesday, September 25th. Raymond James raised their target price on Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. HC Wainwright upped their price target on shares of Viking Therapeutics from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.80.

Viking Therapeutics Trading Down 7.4 %

The company’s 50 day simple moving average is $64.60 and its 200-day simple moving average is $61.42.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter last year, the business posted ($0.23) EPS. Sell-side analysts predict that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lawson Macartney sold 2,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $68.67, for a total value of $137,340.00. Following the completion of the sale, the director now directly owns 47,965 shares in the company, valued at approximately $3,293,756.55. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Lian sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.90, for a total value of $69,900.00. Following the transaction, the chief executive officer now owns 2,354,927 shares in the company, valued at approximately $164,609,397.30. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 506,687 shares of company stock valued at $36,029,679 over the last quarter. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in Viking Therapeutics during the 3rd quarter worth $26,000. GAMMA Investing LLC grew its stake in Viking Therapeutics by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 243 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Viking Therapeutics during the 2nd quarter worth approximately $27,000. Stone House Investment Management LLC raised its position in shares of Viking Therapeutics by 66.7% in the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of Viking Therapeutics during the 3rd quarter valued at approximately $32,000. 76.03% of the stock is owned by institutional investors and hedge funds.

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.