Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $29.30 and last traded at $29.52, with a volume of 651898 shares changing hands. The stock had previously closed at $30.17.
Analyst Upgrades and Downgrades
VKTX has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They issued a "neutral" rating and a $38.00 price target for the company. B. Riley reissued a "buy" rating and issued a $96.00 price target (down from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. Maxim Group cut their price target on shares of Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $102.00 price objective on shares of Viking Therapeutics in a research note on Thursday, February 6th. Finally, Raymond James upped their price objective on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.29.
Read Our Latest Stock Analysis on VKTX
Viking Therapeutics Stock Up 3.0 %
The business's 50-day moving average price is $38.38 and its 200-day moving average price is $53.09. The firm has a market capitalization of $3.39 billion, a PE ratio of -30.33 and a beta of 0.90.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.05). During the same period last year, the firm earned ($0.25) EPS. On average, analysts anticipate that Viking Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Greg Zante sold 50,309 shares of the 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 transaction, the chief financial officer now owns 165,259 shares in the company, valued at approximately $7,064,822.25. This represents a 23.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Marianna Mancini sold 54,215 shares of the 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 $2,317,691.25. Following the completion of the transaction, the chief operating officer now owns 374,134 shares in the company, valued at $15,994,228.50. This represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,014 shares of company stock worth $12,782,849. Insiders own 4.70% of the company's stock.
Hedge Funds Weigh In On Viking Therapeutics
Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in Viking Therapeutics in the third quarter worth approximately $26,000. GAMMA Investing LLC grew its holdings in Viking Therapeutics by 124.6% during 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. Gilliland Jeter Wealth Management LLC acquired a new position in Viking Therapeutics during the third quarter valued at approximately $32,000. Stone House Investment Management LLC grew its holdings in Viking Therapeutics by 66.7% during the third 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 during the last quarter. Finally, YANKCOM Partnership acquired a new position in Viking Therapeutics during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.03% of the company's stock.
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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