Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 3.3% – Here’s What Happened

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) were up 3.3% during mid-day trading on Monday . The stock traded as high as $30.88 and last traded at $30.48. Approximately 3,279,795 shares changed hands during trading, a decline of 23% from the average daily volume of 4,270,754 shares. The stock had previously closed at $29.50.

Analyst Upgrades and Downgrades

VKTX has been the subject of a number of research analyst reports. Raymond James upped their price target on shares of Viking Therapeutics from $122.00 to $125.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. HC Wainwright reiterated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Thursday, February 6th. Citigroup initiated coverage on shares of Viking Therapeutics in a research note on Friday, February 7th. They issued a “neutral” rating and a $38.00 price objective on the stock. Maxim Group reduced their price target on Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.29.

Viking Therapeutics Price Performance

The business has a 50-day simple moving average of $37.20 and a two-hundred day simple moving average of $52.48. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -32.29 and a beta of 0.90.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period in the prior year, the company posted ($0.25) earnings per share. As a group, equities analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Activity at Viking Therapeutics

In related news, CEO Brian Lian sold 194,490 shares of Viking Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $8,314,447.50. Following the completion of the sale, the chief executive officer now owns 2,366,570 shares of the company’s stock, valued at approximately $101,170,867.50. This trade represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the completion of the transaction, the chief operating officer now directly owns 374,134 shares of the company’s stock, valued at approximately $15,994,228.50. This represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 299,014 shares of company stock valued at $12,782,849 over the last 90 days. Insiders own 4.70% of the company’s stock.

Institutional Trading of Viking Therapeutics

Several hedge funds have recently added to or reduced their stakes in VKTX. Norges Bank bought a new position in Viking Therapeutics during the 4th quarter valued at approximately $51,464,000. Massachusetts Financial Services Co. MA grew its holdings in Viking Therapeutics by 446.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company’s stock worth $54,615,000 after purchasing an additional 1,108,972 shares during the period. Ameriprise Financial Inc. raised its stake in Viking Therapeutics by 228.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company’s stock valued at $59,540,000 after buying an additional 1,029,125 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Viking Therapeutics by 10,775.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,004,033 shares of the biotechnology company’s stock worth $63,565,000 after purchasing an additional 994,801 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Viking Therapeutics in the fourth quarter worth approximately $24,888,000. 76.03% of the stock is 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.