Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 4.8% - Here's Why

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) shares traded down 4.8% during mid-day trading on Thursday . The company traded as low as $33.11 and last traded at $33.18. 1,010,067 shares traded hands during trading, a decline of 65% from the average session volume of 2,927,458 shares. The stock had previously closed at $34.86.

Analysts Set New Price Targets

VKTX has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Friday. William Blair reaffirmed an "outperform" rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Piper Sandler assumed coverage on Viking Therapeutics in a research note on Monday, December 2nd. They issued an "overweight" rating and a $74.00 target price on the stock. Oppenheimer restated an "outperform" rating and set a $138.00 price target on shares of Viking Therapeutics in a research report on Wednesday, September 25th. Finally, B. Riley began coverage on Viking Therapeutics in a report on Friday, November 22nd. They issued a "buy" rating and a $109.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $106.75.

Viking Therapeutics Stock Performance

The firm has a 50-day moving average of $46.21 and a 200-day moving average of $55.99. The firm has a market capitalization of $3.64 billion, a P/E ratio of -35.11 and a beta of 0.95.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. Equities analysts anticipate that Viking Therapeutics, Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan sold 11,000 shares of Viking Therapeutics stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.89, for a total value of $889,790.00. Following the sale, the director now directly owns 9,500 shares in the company, valued at approximately $768,455. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Marianna Mancini sold 54,215 shares of the business's stock in a transaction that occurred on 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. Over the last quarter, insiders have sold 443,701 shares of company stock worth $23,898,520. 4.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VKTX. Blue Trust Inc. purchased a new position in shares of Viking Therapeutics during the third quarter valued at about $26,000. GAMMA Investing LLC raised its position 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 worth $28,000 after acquiring an additional 243 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Viking Therapeutics in the 3rd quarter valued at approximately $32,000. Stone House Investment Management LLC lifted its stake in shares of Viking Therapeutics by 66.7% in the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Viking Therapeutics by 84.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 253 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.