Viking Therapeutics (NASDAQ:VKTX) Trading Down 6.9% - Here's Why

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) fell 6.9% during mid-day trading on Friday . The company traded as low as $21.53 and last traded at $22.55. 1,623,664 shares changed hands during trading, a decline of 58% from the average session volume of 3,901,231 shares. The stock had previously closed at $24.22.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VKTX shares. Citigroup started coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They issued a "neutral" rating and a $38.00 target price on the stock. Raymond James raised their target price on Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a research report on Thursday, February 6th. B. Riley reaffirmed a "buy" rating and set a $96.00 price target (down previously from $109.00) on shares of Viking Therapeutics in a research report on Friday, February 7th. Scotiabank initiated coverage on shares of Viking Therapeutics in a research note on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.18.

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Viking Therapeutics Stock Performance

The company has a market capitalization of $2.54 billion, a PE ratio of -22.62 and a beta of 0.84. The stock has a fifty day moving average of $29.32 and a 200 day moving average of $45.20.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same period in the previous year, the firm earned ($0.25) EPS. As a group, equities 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, CEO Brian Lian sold 194,490 shares of Viking Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.75, for a total value of $8,314,447.50. Following the completion of the transaction, the chief executive officer now owns 2,366,570 shares in the company, valued at approximately $101,170,867.50. This trade represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sarah Kathryn Rouan acquired 1,240 shares of the firm's stock in a transaction on Monday, March 31st. The shares were bought at an average price of $24.15 per share, for a total transaction of $29,946.00. Following the completion of the transaction, the director now owns 1,240 shares of the company's stock, valued at approximately $29,946. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 299,014 shares of company stock valued at $12,782,849 in the last 90 days. Insiders own 4.70% of the company's stock.

Institutional Trading of Viking Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Viking Therapeutics by 75.9% in the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 309 shares during the period. YANKCOM Partnership purchased a new stake in Viking Therapeutics in the 4th quarter worth about $33,000. FIL Ltd lifted its stake in Viking Therapeutics by 116.8% in the fourth quarter. FIL Ltd now owns 1,203 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 648 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Viking Therapeutics by 170.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,351 shares of the biotechnology company's stock valued at $55,000 after buying an additional 851 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Viking Therapeutics during the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 76.03% of the company's stock.

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.