Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 2% – What’s Next?

Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report)’s stock price was down 2% on Tuesday . The stock traded as low as $29.52 and last traded at $29.87. Approximately 903,330 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,903,847 shares. The stock had previously closed at $30.48.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VKTX shares. HC Wainwright reiterated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Thursday, February 6th. William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. Maxim Group decreased their target price on Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Piper Sandler cut their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Raymond James lifted their price objective on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Viking Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $97.29.

View Our Latest Report on VKTX

Viking Therapeutics Stock Performance

The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -31.63 and a beta of 0.90. The firm’s 50 day moving average is $36.54 and its 200-day moving average is $52.20.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same quarter last year, the business earned ($0.25) earnings per share. As a group, research analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In related news, COO Marianna Mancini sold 54,215 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,317,691.25. Following the completion of the sale, the chief operating officer now owns 374,134 shares in the company, valued at approximately $15,994,228.50. This trade represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Greg Zante sold 50,309 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.75, for a total value of $2,150,709.75. Following the sale, the chief financial officer now directly owns 165,259 shares in the company, valued at $7,064,822.25. The trade was a 23.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,014 shares of company stock worth $12,782,849 over the last ninety days. Company insiders own 4.70% of the company’s stock.

Institutional Trading of Viking Therapeutics

A number of large investors have recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of Viking Therapeutics by 34.1% in the 3rd quarter. CWM LLC now owns 2,036 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 518 shares in the last quarter. Creative Planning boosted its stake in Viking Therapeutics by 7.6% in the third quarter. Creative Planning now owns 16,955 shares of the biotechnology company’s stock worth $1,074,000 after purchasing an additional 1,202 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Viking Therapeutics by 17.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,059 shares of the biotechnology company’s stock worth $384,000 after acquiring an additional 915 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of Viking Therapeutics during the third quarter valued at approximately $26,000. Finally, Raymond James & Associates increased its stake in shares of Viking Therapeutics by 43.2% in the 3rd quarter. Raymond James & Associates now owns 441,590 shares of the biotechnology company’s stock valued at $27,957,000 after buying an additional 133,144 shares during the period. 76.03% of the stock is currently owned by institutional investors.

Viking Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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