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 Thursday . The stock had previously closed at $23.60, but opened at $22.04. Viking Therapeutics shares last traded at $22.75, with a volume of 1,396,744 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VKTX shares. Citigroup began coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They set a "neutral" rating and a $38.00 price target for the company. Piper Sandler lowered their target price on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group began coverage on Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price target for the company. Maxim Group lowered their price objective on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, Scotiabank assumed coverage on Viking Therapeutics in a research note on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

Viking Therapeutics Stock Down 0.9 %

The stock has a market cap of $2.66 billion, a PE ratio of -23.72 and a beta of 0.84. The company's fifty day moving average is $26.94 and its 200 day moving average is $41.70.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same quarter last year, the business posted ($0.25) EPS. Equities analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Sarah Kathryn Rouan purchased 1,240 shares of the company's stock in a transaction dated Monday, March 31st. The shares were acquired at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the transaction, the director now owns 1,240 shares of the company's stock, valued at $29,946. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Viking Therapeutics by 75.9% during 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 bought a new position in Viking Therapeutics in the 4th quarter worth approximately $33,000. Parallel Advisors LLC increased its position in Viking Therapeutics by 64.8% in the 1st quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 536 shares during the period. FIL Ltd boosted its position in Viking Therapeutics by 116.8% during the 4th quarter. FIL Ltd now owns 1,203 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 648 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of Viking Therapeutics by 222,100.0% in the first quarter. NBC Securities Inc. now owns 2,222 shares of the biotechnology company's stock worth $53,000 after purchasing an additional 2,221 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors.

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.