Viking Therapeutics (NASDAQ:VKTX) Shares Down 8.9% - What's Next?

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price dropped 8.9% during mid-day trading on Wednesday . The stock traded as low as $41.60 and last traded at $42.55. Approximately 3,733,282 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 4,415,364 shares. The stock had previously closed at $46.70.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VKTX shares. StockNews.com upgraded Viking Therapeutics to a "sell" rating in a research report on Tuesday, October 15th. Oppenheimer reiterated an "outperform" rating and issued a $138.00 price target on shares of Viking Therapeutics in a research report on Wednesday, September 25th. JPMorgan Chase & Co. began coverage on shares of Viking Therapeutics in a research note on Wednesday, September 11th. They set an "overweight" rating and a $80.00 price objective for the company. B. Riley started coverage on shares of Viking Therapeutics in a report on Friday, November 22nd. They set a "buy" rating and a $109.00 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $106.75.

Viking Therapeutics Stock Down 18.0 %

The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -41.16 and a beta of 0.88. The company's fifty day moving average is $58.47 and its two-hundred day moving average is $58.06.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.02. During the same period last year, the firm earned ($0.23) earnings per share. On average, equities research analysts expect that Viking Therapeutics, Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In related news, Director Lawson Macartney sold 2,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $68.67, for a total transaction of $137,340.00. Following the transaction, the director now directly owns 47,965 shares in the company, valued at approximately $3,293,756.55. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Matthew Singleton sold 10,300 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $69.50, for a total transaction of $715,850.00. Following the completion of the sale, the director now owns 9,500 shares of the company's stock, valued at $660,250. This trade represents a 52.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 371,117 shares of company stock worth $27,140,009. Corporate insiders own 4.70% of the company's stock.

Institutional Trading of Viking Therapeutics

Several institutional investors have recently added to or reduced their stakes in VKTX. Signaturefd LLC lifted its position in shares of 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 acquiring an additional 188 shares during the period. Stone House Investment Management LLC increased its position in Viking Therapeutics by 66.7% during the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Keudell Morrison Wealth Management lifted its stake in Viking Therapeutics by 5.9% in the 3rd quarter. Keudell Morrison Wealth Management now owns 4,306 shares of the biotechnology company's stock valued at $273,000 after purchasing an additional 241 shares during the last quarter. GAMMA Investing LLC boosted its position in Viking Therapeutics by 124.6% in the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company's stock valued at $28,000 after buying an additional 243 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings 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 worth $35,000 after buying an additional 253 shares in the last quarter. 76.03% of the stock is currently owned by 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.