Viking Therapeutics (NASDAQ:VKTX) Trading Up 0.6% - Here's Why

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s share price was up 0.6% during trading on Wednesday . The company traded as high as $48.79 and last traded at $48.15. Approximately 559,513 shares changed hands during trading, a decline of 87% from the average daily volume of 4,447,740 shares. The stock had previously closed at $47.85.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com upgraded Viking Therapeutics to a "sell" rating in a report on Tuesday, October 15th. William Blair restated an "outperform" rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Morgan Stanley restated an "overweight" rating and issued a $105.00 price target on shares of Viking Therapeutics in a report on Thursday, September 12th. B. Riley initiated coverage on Viking Therapeutics in a report on Friday, November 22nd. They issued a "buy" rating and a $109.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Viking Therapeutics in a research report on Wednesday, September 11th. They issued an "overweight" rating and a $80.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Viking Therapeutics presently has a consensus rating of "Buy" and an average target price of $106.75.

Viking Therapeutics Price Performance

The business has a 50-day simple moving average of $60.67 and a two-hundred day simple moving average of $58.75. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -51.77 and a beta of 0.89.

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

Insider Activity

In related news, Director J Matthew Singleton sold 10,300 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $69.50, for a total value of $715,850.00. Following the completion of the sale, the director now directly owns 9,500 shares in the company, valued at approximately $660,250. The trade was a 52.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the company's stock in a transaction 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 owns 9,500 shares of the company's stock, valued at $768,455. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,117 shares of company stock valued at $27,140,009. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. Blue Trust Inc. bought a new stake in Viking Therapeutics during the third quarter worth $26,000. GAMMA Investing LLC lifted 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 during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in shares of Viking Therapeutics in the 3rd quarter valued at $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 acquiring an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Viking Therapeutics by 84.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 253 shares during 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.

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