Viking Therapeutics (NASDAQ:VKTX) Shares Down 2.9% – Here’s What Happened

Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report)’s share price traded down 2.9% during mid-day trading on Friday . The company traded as low as $50.95 and last traded at $52.03. 2,068,650 shares were traded during mid-day trading, a decline of 54% from the average session volume of 4,519,647 shares. The stock had previously closed at $53.57.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VKTX shares. Morgan Stanley restated an “overweight” rating and set a $105.00 price target on shares of Viking Therapeutics in a research note on Thursday, September 12th. JPMorgan Chase & Co. began coverage on Viking Therapeutics in a report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price objective on the stock. StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. Raymond James increased their price target on shares of Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Finally, HC Wainwright lifted their price objective on Viking Therapeutics from $90.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.80.

Get Our Latest Report on VKTX

Viking Therapeutics Trading Down 6.7 %

The firm has a fifty day moving average price of $64.69 and a 200 day moving average price of $61.60. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of -55.95 and a beta of 1.00.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last issued 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 period in the prior year, the firm posted ($0.23) EPS. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In related news, Director J Matthew Singleton sold 16,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $62.22, for a total value of $995,520.00. Following the transaction, the director now owns 9,500 shares in the company, valued at $591,090. The trade was a 62.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Lian sold 112,870 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $65.80, for a total transaction of $7,426,846.00. Following the transaction, the chief executive officer now owns 2,354,927 shares in the company, valued at $154,954,196.60. The trade was a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 506,687 shares of company stock worth $36,029,679 over the last ninety days. Insiders own 4.70% of the company’s stock.

Institutional Trading of Viking Therapeutics

A number of institutional investors have recently modified their holdings of VKTX. Blue Trust Inc. bought a new stake in Viking Therapeutics in the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Viking Therapeutics during the second quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in shares of Viking Therapeutics by 124.6% in the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 243 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in Viking Therapeutics in the third quarter worth about $32,000. Finally, Stone House Investment Management LLC raised 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 purchasing an additional 200 shares during the last quarter. 76.03% of the stock is currently owned by hedge funds and other 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.

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