Viking Therapeutics (NASDAQ:VKTX) Trading Down 5.6% - Should You Sell?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) were down 5.6% on Tuesday . The stock traded as low as $23.35 and last traded at $23.20. Approximately 1,122,666 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 3,997,229 shares. The stock had previously closed at $24.57.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VKTX. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Thursday. B. Riley reiterated a "buy" rating and set a $96.00 target price (down previously from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group began coverage on Viking Therapeutics in a research note on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price objective for the company. Maxim Group lowered their target price on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Citigroup began coverage on Viking Therapeutics in a research note on Friday, February 7th. They set a "neutral" rating and a $38.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Viking Therapeutics has an average rating of "Moderate Buy" and an average price target of $89.75.

Viking Therapeutics Price Performance

The company's 50 day moving average is $26.94 and its 200 day moving average is $42.01. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -23.94 and a beta of 0.84.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same period in the previous year, the business earned ($0.25) earnings per share. Sell-side analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Sarah Kathryn Rouan purchased 1,240 shares of the business's stock in a transaction dated Monday, March 31st. The stock was bought at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the acquisition, the director now directly owns 1,240 shares in the company, valued at $29,946. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently made changes to their positions in VKTX. GSB Wealth Management LLC raised its holdings in Viking Therapeutics by 12.2% in the first quarter. GSB Wealth Management LLC now owns 8,317 shares of the biotechnology company's stock valued at $201,000 after buying an additional 907 shares during the period. Compagnie Lombard Odier SCmA boosted its position in shares of Viking Therapeutics by 286.0% in the first quarter. Compagnie Lombard Odier SCmA now owns 20,245 shares of the biotechnology company's stock worth $489,000 after buying an additional 15,000 shares during the period. Wesbanco Bank Inc. grew its position in Viking Therapeutics by 101.7% in the first quarter. Wesbanco Bank Inc. now owns 23,800 shares of the biotechnology company's stock valued at $575,000 after acquiring an additional 12,000 shares in the last quarter. Principia Wealth Advisory LLC increased its stake in Viking Therapeutics by 10.5% during the 1st quarter. Principia Wealth Advisory LLC now owns 6,478 shares of the biotechnology company's stock worth $150,000 after buying an additional 616 shares during the period. Finally, RFG Advisory LLC acquired a new position in shares of Viking Therapeutics in the first quarter worth about $958,000. Institutional investors and hedge funds 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.