Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) rose 7.6% on Wednesday . The stock traded as high as $30.73 and last traded at $31.48. Approximately 1,299,635 shares traded hands during trading, a decline of 66% from the average daily volume of 3,868,904 shares. The stock had previously closed at $29.26.
Analyst Ratings Changes
VKTX has been the subject of several research reports. Maxim Group reduced their target price on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Scotiabank assumed coverage on Viking Therapeutics in a research note on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Thursday, February 6th. Citigroup started coverage on shares of Viking Therapeutics in a research report on Friday, February 7th. They issued a "neutral" rating and a $38.00 price target for the company. Finally, B. Riley restated a "buy" rating and set a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.29.
Read Our Latest Stock Analysis on VKTX
Viking Therapeutics Trading Down 14.3 %
The business's fifty day moving average price is $35.92 and its 200-day moving average price is $51.89. The company has a market capitalization of $3.25 billion, a P/E ratio of -29.20 and a beta of 0.90.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its quarterly 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 company earned ($0.25) earnings per share. As a group, equities research analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.
Insider Buying and Selling at Viking Therapeutics
In other Viking Therapeutics news, CFO Greg Zante sold 50,309 shares of the business's stock in a transaction on 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 of the company's stock, valued at $7,064,822.25. The trade was a 23.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Marianna Mancini sold 54,215 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,317,691.25. Following the transaction, the chief operating officer now directly owns 374,134 shares in the company, valued at $15,994,228.50. This trade represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,014 shares of company stock worth $12,782,849 over the last ninety days. Insiders own 4.70% of the company's stock.
Institutional Investors Weigh In On Viking Therapeutics
Several institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its position in Viking Therapeutics by 7.6% in the third quarter. Creative Planning now owns 16,955 shares of the biotechnology company's stock valued at $1,074,000 after purchasing an additional 1,202 shares during the last quarter. Blue Trust Inc. bought a new stake in Viking Therapeutics during the 3rd quarter valued at $26,000. Foundations Investment Advisors LLC bought a new stake in Viking Therapeutics during the 3rd quarter valued at $218,000. Signaturefd LLC boosted its position in Viking Therapeutics by 16.2% during the 3rd quarter. Signaturefd LLC now owns 1,351 shares of the biotechnology company's stock valued at $86,000 after buying an additional 188 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Viking Therapeutics by 66.4% in the 3rd quarter. Private Advisor Group LLC now owns 9,086 shares of the biotechnology company's stock worth $575,000 after acquiring an additional 3,625 shares during the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.
About Viking Therapeutics
(
Get Free Report)
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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