Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 1.7% – Here’s Why

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) fell 1.7% on Tuesday . The stock traded as low as $29.24 and last traded at $29.66. 1,840,867 shares traded hands during trading, a decline of 54% from the average session volume of 3,982,418 shares. The stock had previously closed at $30.17.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VKTX shares. HC Wainwright reiterated a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Thursday, February 6th. Citigroup assumed coverage on shares of Viking Therapeutics in a research report on Friday. They issued a “neutral” rating and a $38.00 target price on the stock. Piper Sandler reduced their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com raised Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. Finally, Maxim Group decreased their target price on Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Viking Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $96.92.

Viking Therapeutics Price Performance

The stock’s 50-day moving average is $39.63 and its 200 day moving average is $53.68. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -29.62 and a beta of 0.90.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same period last year, the firm earned ($0.25) earnings per share. Analysts anticipate that Viking Therapeutics, Inc. will post -1.41 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CEO Brian Lian sold 194,490 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $8,314,447.50. Following the completion of the sale, the chief executive officer now directly owns 2,366,570 shares of the company’s stock, valued at approximately $101,170,867.50. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Greg Zante sold 50,309 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.75, for a total value of $2,150,709.75. Following the transaction, the chief financial officer now owns 165,259 shares in the company, valued at $7,064,822.25. This trade represents a 23.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,014 shares of company stock valued at $12,782,849 over the last quarter. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

A number of large investors have recently modified their holdings of VKTX. Blue Trust Inc. acquired a new stake in Viking Therapeutics during the 3rd quarter worth approximately $26,000. GAMMA Investing LLC grew its stake in Viking Therapeutics by 124.6% during the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after buying an additional 243 shares during the period. Stone House Investment Management LLC raised 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 period. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Viking Therapeutics in the 3rd quarter valued at $32,000. Finally, CNB Bank acquired a new position in shares of Viking Therapeutics during the 3rd quarter valued at $49,000. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Viking Therapeutics Company Profile

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.