Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 2% – Here’s What Happened

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price shot up 2% on Thursday . The company traded as high as $54.73 and last traded at $54.51. 2,571,782 shares changed hands during trading, a decline of 43% from the average session volume of 4,522,554 shares. The stock had previously closed at $53.42.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VKTX shares. B. Riley initiated coverage on shares of Viking Therapeutics in a report on Friday, November 22nd. They set a “buy” rating and a $109.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $138.00 price objective on shares of Viking Therapeutics in a research note on Wednesday, September 25th. William Blair restated an “outperform” rating on shares of Viking Therapeutics in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. assumed coverage on Viking Therapeutics in a research report on Wednesday, September 11th. They set an “overweight” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $109.73.

Viking Therapeutics Trading Up 2.0 %

The firm has a fifty day moving average price of $63.04 and a 200 day moving average price of $59.87. The firm has a market cap of $6.07 billion, a PE ratio of -58.61 and a beta of 1.00.

Viking Therapeutics (NASDAQ:VKTX) last issued 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 previous year, the company earned ($0.23) EPS. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -0.98 earnings per share for the current year.

Insider Activity at Viking Therapeutics

In related news, Director J Matthew Singleton sold 10,300 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $69.50, for a total transaction of $715,850.00. Following the completion of the sale, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $660,250. This trade represents a 52.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.89, for a total transaction of $889,790.00. Following the completion of the transaction, the director now directly owns 9,500 shares in the company, valued at $768,455. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,117 shares of company stock worth $27,140,009. Insiders own 4.70% of the company’s stock.

Institutional Trading of Viking Therapeutics

Several institutional investors have recently added to or reduced their stakes in VKTX. Tidal Investments LLC lifted its stake in Viking Therapeutics by 296.8% during the third quarter. Tidal Investments LLC now owns 15,190 shares of the biotechnology company’s stock worth $962,000 after purchasing an additional 11,362 shares in the last quarter. World Investment Advisors LLC acquired a new position in Viking Therapeutics during the 3rd quarter worth about $240,000. Sanctuary Advisors LLC boosted its holdings in Viking Therapeutics by 51.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,416 shares of the biotechnology company’s stock valued at $343,000 after acquiring an additional 1,836 shares during the period. Second Line Capital LLC grew its position in Viking Therapeutics by 34.1% in the 3rd quarter. Second Line Capital LLC now owns 38,118 shares of the biotechnology company’s stock valued at $2,413,000 after acquiring an additional 9,699 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in Viking Therapeutics during the third quarter worth about $741,000. Institutional investors and hedge funds 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.