Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 2.8%

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price was down 2.8% on Wednesday . The stock traded as low as $63.59 and last traded at $64.29. Approximately 2,761,863 shares were traded during trading, a decline of 41% from the average daily volume of 4,700,863 shares. The stock had previously closed at $66.14.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Viking Therapeutics in a research note on Thursday, July 25th. Morgan Stanley initiated coverage on shares of Viking Therapeutics in a report on Thursday, June 27th. They set an “overweight” rating and a $105.00 target price for the company. Truist Financial reissued a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a research note on Monday, June 17th. Maxim Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Viking Therapeutics in a research note on Tuesday, June 4th. Finally, Raymond James increased their target price on Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Viking Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $111.78.

Viking Therapeutics Trading Up 0.4 %

The company has a 50 day moving average of $54.98 and a 200 day moving average of $60.92. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of -69.31 and a beta of 1.03.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. During the same period in the prior year, the company earned ($0.19) earnings per share. Equities analysts forecast that Viking Therapeutics, Inc. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Lian sold 115,859 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $57.58, for a total value of $6,671,161.22. Following the completion of the transaction, the chief executive officer now owns 2,354,927 shares in the company, valued at $135,596,696.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian Lian sold 115,859 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.58, for a total value of $6,671,161.22. Following the sale, the chief executive officer now directly owns 2,354,927 shares in the company, valued at $135,596,696.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Marianna Mancini sold 18,026 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total value of $1,029,825.38. Following the transaction, the chief operating officer now owns 362,149 shares of the company’s stock, valued at $20,689,572.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,241 shares of company stock worth $17,786,475. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VKTX. Massmutual Trust Co. FSB ADV bought a new stake in Viking Therapeutics during the 1st quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Viking Therapeutics during the second quarter worth about $27,000. Lindbrook Capital LLC boosted its position in Viking Therapeutics by 370.7% during the first quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 278 shares during the last quarter. LifeSteps Financial Inc. bought a new position in Viking Therapeutics in the first quarter valued at approximately $37,000. Finally, Meeder Asset Management Inc. increased its position in shares of Viking Therapeutics by 140.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 802 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 469 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

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.