Viking Therapeutics (NASDAQ:VKTX) Shares Down 0.6% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares dropped 0.6% during trading on Wednesday . The company traded as low as $52.17 and last traded at $53.11. Approximately 864,190 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,514,457 shares. The stock had previously closed at $53.42.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VKTX shares. Oppenheimer reiterated an “outperform” rating and set a $138.00 target price on shares of Viking Therapeutics in a report on Wednesday, September 25th. JPMorgan Chase & Co. assumed coverage on Viking Therapeutics in a research note on Wednesday, September 11th. They set an “overweight” rating and a $80.00 target price for the company. Morgan Stanley reissued an “overweight” rating and set a $105.00 price objective on shares of Viking Therapeutics in a research report on Thursday, September 12th. HC Wainwright reiterated a “buy” rating and set a $102.00 target price on shares of Viking Therapeutics in a report on Tuesday. Finally, StockNews.com raised Viking Therapeutics to a “sell” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Viking Therapeutics presently has an average rating of “Buy” and an average price target of $109.73.

Viking Therapeutics Stock Performance

The business’s 50 day moving average price is $63.04 and its 200-day moving average price is $59.87.

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. Research analysts forecast that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In related news, Director Lawson Macartney sold 2,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $68.67, for a total transaction of $137,340.00. Following the sale, the director now owns 47,965 shares in the company, valued at approximately $3,293,756.55. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Lian sold 216,130 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $70.83, for a total transaction of $15,308,487.90. Following the transaction, the chief executive officer now owns 2,304,927 shares of the company’s stock, valued at approximately $163,257,979.41. This represents a 8.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 371,117 shares of company stock worth $27,140,009. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new position in shares of Viking Therapeutics in the 3rd quarter valued at $26,000. GAMMA Investing LLC raised its position in Viking Therapeutics by 124.6% in the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 243 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Viking Therapeutics during the second quarter valued at about $27,000. Stone House Investment Management LLC grew its holdings in shares of Viking Therapeutics by 66.7% during the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Viking Therapeutics during the 3rd quarter worth approximately $32,000. 76.03% of the stock is currently 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.