Viking Therapeutics (NASDAQ:VKTX) Trading Down 1.9% – What’s Next?

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price was down 1.9% during mid-day trading on Friday . The company traded as low as $52.95 and last traded at $53.45. Approximately 546,075 shares changed hands during trading, a decline of 88% from the average daily volume of 4,505,049 shares. The stock had previously closed at $54.51.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. Morgan Stanley restated an “overweight” rating and set a $105.00 price target on shares of Viking Therapeutics in a report on Thursday, September 12th. B. Riley began coverage on shares of Viking Therapeutics in a research report on Friday, November 22nd. They set a “buy” rating and a $109.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price target on shares of Viking Therapeutics in a research note on Wednesday, September 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $109.73.

Viking Therapeutics Stock Down 2.0 %

The business’s fifty day moving average is $62.77 and its two-hundred day moving average is $59.83. The stock has a market capitalization of $5.95 billion, a PE ratio of -57.47 and a beta of 1.00.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same period in the prior year, the company earned ($0.23) EPS. Sell-side analysts expect that Viking Therapeutics, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brian Lian sold 216,130 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $70.83, for a total transaction of $15,308,487.90. Following the sale, the chief executive officer now owns 2,304,927 shares in the company, valued at approximately $163,257,979.41. The trade was a 8.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Matthew Singleton sold 10,300 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $69.50, for a total value of $715,850.00. Following the sale, the director now owns 9,500 shares in the company, valued at $660,250. The trade was a 52.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,117 shares of company stock worth $27,140,009. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Viking Therapeutics by 16.2% during the 3rd quarter. Signaturefd LLC now owns 1,351 shares of the biotechnology company’s stock valued at $86,000 after purchasing an additional 188 shares in the last quarter. Stone House Investment Management LLC increased its holdings in shares of Viking Therapeutics by 66.7% during 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. Keudell Morrison Wealth Management increased its holdings in shares of Viking Therapeutics by 5.9% during the 3rd quarter. Keudell Morrison Wealth Management now owns 4,306 shares of the biotechnology company’s stock valued at $273,000 after purchasing an additional 241 shares in the last quarter. GAMMA Investing LLC grew its stake in Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 243 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in Viking Therapeutics by 84.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.

Viking Therapeutics Company 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.