Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 2.4% – What’s Next?

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares were down 2.4% during mid-day trading on Friday . The stock traded as low as $46.60 and last traded at $46.71. Approximately 620,701 shares changed hands during trading, a decline of 86% from the average daily volume of 4,426,543 shares. The stock had previously closed at $47.87.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VKTX shares. HC Wainwright reiterated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Tuesday, November 26th. B. Riley initiated coverage on shares of Viking Therapeutics in a research report on Friday, November 22nd. They set a “buy” rating and a $109.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a research report on Wednesday, November 20th. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler assumed coverage on Viking Therapeutics in a report on Monday, December 2nd. They set an “overweight” rating and a $74.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $106.75.

Viking Therapeutics Trading Down 2.7 %

The company’s 50 day simple moving average is $60.03 and its 200-day simple moving average is $58.61. The firm has a market cap of $5.19 billion, a P/E ratio of -50.23 and a beta of 0.88.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter in the prior year, the company posted ($0.23) earnings per share. On average, sell-side analysts anticipate that Viking Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan sold 11,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.89, for a total value of $889,790.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Matthew Singleton sold 10,300 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $69.50, for a total transaction of $715,850.00. Following the sale, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $660,250. The trade was a 52.02 % 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 owned by company insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in Viking Therapeutics in the 1st quarter worth approximately $239,000. CWM LLC increased its holdings in Viking Therapeutics by 70.6% in the 2nd quarter. CWM LLC now owns 1,518 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 628 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Viking Therapeutics by 112.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,750 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 8,344 shares in the last quarter. World Equity Group Inc. bought a new position in shares of Viking Therapeutics during the 2nd quarter valued at about $331,000. Finally, Raymond James & Associates grew its position in shares of Viking Therapeutics by 25.8% during the second quarter. Raymond James & Associates now owns 308,446 shares of the biotechnology company’s stock valued at $16,351,000 after purchasing an additional 63,206 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

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.