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

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price fell 1% during mid-day trading on Tuesday . The stock traded as low as $47.85 and last traded at $48.61. 1,026,326 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 4,532,492 shares. The stock had previously closed at $49.11.

Analysts Set New Price Targets

VKTX has been the topic of a number of research analyst reports. Raymond James increased their target price on Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Oppenheimer reiterated an “outperform” rating and set a $138.00 price target on shares of Viking Therapeutics in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They set an “overweight” rating and a $80.00 target price on the stock. Finally, HC Wainwright boosted their target price on Viking Therapeutics from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.80.

Viking Therapeutics Price Performance

The company’s 50-day moving average price is $64.24 and its 200 day moving average price is $60.76.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings data 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 period in the prior year, the company posted ($0.23) earnings per share. As a group, research analysts predict that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In related news, Director Lawson Macartney sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 47,965 shares of the company’s stock, valued at approximately $3,293,756.55. This represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Greg Zante sold 131,687 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $76.61, for a total value of $10,088,541.07. Following the completion of the transaction, the chief financial officer now owns 149,366 shares of the company’s stock, valued at $11,442,929.26. This represents a 46.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,117 shares of company stock valued at $27,140,009. Insiders own 4.70% of the company’s stock.

Institutional Trading of Viking Therapeutics

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its stake 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 worth $86,000 after acquiring an additional 188 shares during the last quarter. Stone House Investment Management LLC boosted its stake in shares of Viking Therapeutics by 66.7% in the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Keudell Morrison Wealth Management grew its holdings in 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 buying an additional 241 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Viking Therapeutics by 84.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors 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.