Viking Therapeutics (NASDAQ:VKTX) Trading Down 2.9% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) dropped 2.9% during trading on Monday . The company traded as low as $52.80 and last traded at $52.94. Approximately 1,536,315 shares were traded during trading, a decline of 66% from the average daily volume of 4,509,639 shares. The stock had previously closed at $54.51.

Wall Street Analyst Weigh In

VKTX has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Viking Therapeutics in a report on Monday. They set an “overweight” rating and a $74.00 price target on the stock. B. Riley initiated coverage on Viking Therapeutics in a research report on Friday, November 22nd. They set a “buy” rating and a $109.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $105.00 target price on shares of Viking Therapeutics in a research report on Thursday, September 12th. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. 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 company’s stock. According to data from MarketBeat.com, Viking Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $106.75.

Viking Therapeutics Stock Down 2.9 %

The firm has a market capitalization of $5.90 billion, a PE ratio of -56.92 and a beta of 1.00. The firm has a 50-day moving average price of $62.42 and a 200 day moving average price of $59.48.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. During the same period last year, the company earned ($0.23) earnings per share. Equities research analysts expect that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Viking Therapeutics

In other news, CEO Brian Lian sold 216,130 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $70.83, for a total value of $15,308,487.90. Following the sale, the chief executive officer now directly owns 2,304,927 shares in the company, valued at approximately $163,257,979.41. This trade represents a 8.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Greg Zante sold 131,687 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $76.61, for a total transaction of $10,088,541.07. Following the transaction, the chief financial officer now owns 149,366 shares of the company’s stock, valued at approximately $11,442,929.26. The trade was a 46.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,117 shares of company stock valued at $27,140,009. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Viking Therapeutics by 16.2% in the 3rd quarter. Signaturefd LLC now owns 1,351 shares of the biotechnology company’s stock valued at $86,000 after purchasing an additional 188 shares during the last quarter. Stone House Investment Management LLC lifted its stake in Viking Therapeutics by 66.7% in the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Keudell Morrison Wealth Management boosted its holdings in shares of Viking Therapeutics by 5.9% in the third quarter. Keudell Morrison Wealth Management now owns 4,306 shares of the biotechnology company’s stock valued at $273,000 after acquiring an additional 241 shares during the period. GAMMA Investing LLC increased its holdings 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 period. Finally, Massmutual Trust Co. FSB ADV raised its position in 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 purchasing an additional 253 shares during the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

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.