Viking Therapeutics (NASDAQ:VKTX) Shares Gap Down - Here's Why

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $46.70, but opened at $43.09. Viking Therapeutics shares last traded at $42.37, with a volume of 2,250,599 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VKTX. Morgan Stanley reiterated an "overweight" rating and set a $105.00 price objective on shares of Viking Therapeutics in a research note on Thursday, September 12th. HC Wainwright reaffirmed a "buy" rating and issued a $102.00 price target on shares of Viking Therapeutics in a report on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $138.00 price objective on shares of Viking Therapeutics in a report on Wednesday, September 25th. B. Riley assumed coverage on Viking Therapeutics in a research note on Friday, November 22nd. They set a "buy" rating and a $109.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Viking Therapeutics in a research report on Wednesday, September 11th. They set an "overweight" rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Viking Therapeutics presently has an average rating of "Buy" and a consensus target price of $106.75.

Viking Therapeutics Price Performance

The stock has a market cap of $4.27 billion, a PE ratio of -41.16 and a beta of 0.88. The company's fifty day moving average is $58.96 and its 200-day moving average is $58.20.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02. During the same quarter last year, the firm posted ($0.23) EPS. Analysts expect that Viking Therapeutics, Inc. will post -0.97 EPS for the current year.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, Director Lawson Macartney sold 2,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $68.67, for a total transaction of $137,340.00. Following the transaction, the director now owns 47,965 shares of the company's stock, valued at approximately $3,293,756.55. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Greg Zante sold 131,687 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $76.61, for a total value of $10,088,541.07. Following the completion of the sale, the chief financial officer now directly owns 149,366 shares of the company's stock, valued at $11,442,929.26. This trade represents a 46.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,117 shares of company stock valued at $27,140,009 over the last 90 days. Corporate insiders own 4.70% of the company's stock.

Institutional Trading of Viking Therapeutics

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. acquired a new position in Viking Therapeutics in the third quarter valued at approximately $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 period. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Viking Therapeutics in the 3rd quarter valued at $32,000. Stone House Investment Management LLC grew its holdings in shares of Viking Therapeutics by 66.7% during the 3rd 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 period. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Viking Therapeutics by 84.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors 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.