Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 5.6% - What's Next?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) fell 5.6% on Tuesday . The company traded as low as $59.33 and last traded at $59.42. 1,764,845 shares were traded during trading, a decline of 61% from the average session volume of 4,492,938 shares. The stock had previously closed at $62.97.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on VKTX shares. Raymond James raised their target price on Viking Therapeutics from $116.00 to $118.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 25th. Oppenheimer reissued an "outperform" rating and set a $138.00 price objective on shares of Viking Therapeutics in a research note on Wednesday, September 25th. StockNews.com upgraded Viking Therapeutics to a "sell" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on shares of Viking Therapeutics in a research note on Wednesday, September 11th. They issued an "overweight" rating and a $80.00 price target on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $105.00 target price on shares of Viking Therapeutics in a research report on Thursday, September 12th. One equities research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.80.

Viking Therapeutics Stock Performance

The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of -62.35 and a beta of 1.00. The company's 50 day moving average is $64.74 and its 200 day moving average is $61.80.

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 business posted ($0.23) EPS. On average, equities research analysts anticipate that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, Director J Matthew Singleton sold 20,786 shares of Viking Therapeutics stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $57.53, for a total value of $1,195,818.58. Following the transaction, the director now directly owns 9,500 shares of the company's stock, valued at $546,535. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Sarah Kathryn Rouan sold 11,000 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.89, for a total transaction of $889,790.00. Following the sale, the director now directly owns 9,500 shares in the company, valued at approximately $768,455. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Matthew Singleton sold 20,786 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.53, for a total value of $1,195,818.58. Following the sale, the director now owns 9,500 shares in the company, valued at $546,535. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 527,473 shares of company stock valued at $37,225,498. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Viking Therapeutics by 44.7% during the first quarter. Vanguard Group Inc. now owns 7,785,724 shares of the biotechnology company's stock valued at $638,429,000 after buying an additional 2,403,820 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in Viking Therapeutics in the 1st quarter worth approximately $294,380,000. Perpetual Ltd increased its holdings in Viking Therapeutics by 55.4% in the 3rd quarter. Perpetual Ltd now owns 1,269,152 shares of the biotechnology company's stock valued at $80,350,000 after acquiring an additional 452,344 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Viking Therapeutics by 10,775.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,004,033 shares of the biotechnology company's stock valued at $63,565,000 after buying an additional 994,801 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Viking Therapeutics by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 715,597 shares of the biotechnology company's stock worth $45,304,000 after buying an additional 44,122 shares during the last quarter. 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.

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