Viking Therapeutics (NASDAQ:VKTX) Shares Down 1% - Should You Sell?

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares traded down 1% on Thursday . The company traded as low as $29.76 and last traded at $29.78. 628,826 shares were traded during trading, a decline of 84% from the average session volume of 3,958,815 shares. The stock had previously closed at $30.07.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler cut their price objective on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Raymond James boosted their price objective on Viking Therapeutics from $122.00 to $125.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. HC Wainwright reissued a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Tuesday, March 11th. Maxim Group cut their price objective on shares of 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, Citigroup began 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.67.

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Viking Therapeutics Stock Up 2.1 %

The business has a 50-day simple moving average of $31.04 and a 200-day simple moving average of $47.59. The company has a market cap of $3.25 billion, a PE ratio of -28.95 and a beta of 0.90.

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 (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. As a group, equities research analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In related news, COO Marianna Mancini sold 54,215 shares of Viking Therapeutics stock in a transaction 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 directly owns 374,134 shares in the company, valued at approximately $15,994,228.50. This trade represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Greg Zante sold 50,309 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,150,709.75. Following the completion of the sale, the chief financial officer now directly owns 165,259 shares in the company, valued at $7,064,822.25. This represents a 23.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,014 shares of company stock valued at $12,782,849 in the last 90 days. Company insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On Viking Therapeutics

A number of large investors have recently modified their holdings of VKTX. OneDigital Investment Advisors LLC purchased a new stake in shares of Viking Therapeutics during the 3rd quarter worth $206,000. Thrivent Financial for Lutherans raised its stake in Viking Therapeutics by 2.7% in the third quarter. Thrivent Financial for Lutherans now owns 28,251 shares of the biotechnology company's stock valued at $1,789,000 after buying an additional 748 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Viking Therapeutics during the 3rd quarter worth about $298,000. Avior Wealth Management LLC increased its holdings in shares of Viking Therapeutics by 39.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,172 shares of the biotechnology company's stock valued at $201,000 after acquiring an additional 892 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Viking Therapeutics by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 248,269 shares of the biotechnology company's stock worth $15,718,000 after acquiring an additional 11,668 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.