Viking Therapeutics (NASDAQ:VKTX) Trading Down 2.2% After Insider Selling

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) traded down 2.2% during mid-day trading on Monday following insider selling activity. The stock traded as low as $66.18 and last traded at $66.97. 1,007,703 shares traded hands during trading, a decline of 78% from the average session volume of 4,488,377 shares. The stock had previously closed at $68.48.

Specifically, Director Lawson Macartney sold 2,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the completion of the transaction, the director now owns 47,965 shares of the company's stock, valued at approximately $3,293,756.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VKTX shares. JPMorgan Chase & Co. began coverage on shares of Viking Therapeutics in a research report on Wednesday, September 11th. They set an "overweight" rating and a $80.00 price objective for the company. Raymond James upped their price target on shares of Viking Therapeutics from $116.00 to $118.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 25th. StockNews.com upgraded Viking Therapeutics to a "sell" rating in a research note on Tuesday, October 15th. Oppenheimer restated an "outperform" rating and set a $138.00 price objective on shares of Viking Therapeutics in a research report on Wednesday, September 25th. Finally, HC Wainwright increased their target price on Viking Therapeutics from $90.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $109.80.

Viking Therapeutics Price Performance

The company has a fifty day moving average of $64.74 and a 200 day moving average of $61.80. The firm has a market capitalization of $7.02 billion, a P/E ratio of -67.71 and a beta of 1.00.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same quarter last year, the firm earned ($0.23) EPS. On average, sell-side analysts forecast that Viking Therapeutics, Inc. will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. acquired a new stake in Viking Therapeutics during the third quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Viking Therapeutics during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC increased its stake in shares of Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 243 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Viking Therapeutics during the 3rd quarter valued at $32,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Viking Therapeutics by 84.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 253 shares in the last quarter. 76.03% of the stock is 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.