Viking Therapeutics (NASDAQ:VKTX) Shares Down 2.8%

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares dropped 2.8% on Wednesday . The stock traded as low as $63.59 and last traded at $64.29. Approximately 2,761,863 shares changed hands 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 analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Viking Therapeutics in a research report on Thursday, June 27th. They issued an “overweight” rating and a $105.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Viking Therapeutics in a research report on Thursday, July 25th. Raymond James increased their price target on shares of Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Maxim Group reiterated a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a research report on Tuesday, June 4th. Finally, Truist Financial restated a “buy” rating and set a $120.00 target price on shares of Viking Therapeutics in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.78.

Viking Therapeutics Trading Down 1.5 %

The stock’s 50 day moving average price is $54.49 and its 200 day moving average price is $60.87. The firm has a market cap of $7.19 billion, a PE ratio of -69.13 and a beta of 1.03.

Viking Therapeutics (NASDAQ:VKTX) last issued its earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Analysts forecast that Viking Therapeutics, Inc. will post -0.99 earnings per share for the current year.

Insider Activity at Viking Therapeutics

In related news, COO Marianna Mancini sold 18,026 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the completion of the sale, the chief operating officer now directly owns 362,149 shares of the company’s stock, valued at approximately $20,689,572.37. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Viking Therapeutics news, Director J Matthew Singleton sold 20,786 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.53, for a total transaction of $1,195,818.58. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $546,535. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Marianna Mancini sold 18,026 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the transaction, the chief operating officer now directly 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 sold 283,541 shares of company stock valued at $17,319,171. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VKTX. Massmutual Trust Co. FSB ADV bought a new stake in Viking Therapeutics in the 1st quarter valued at about $25,000. Lindbrook Capital LLC lifted its position in Viking Therapeutics by 370.7% in the 1st 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 stake in Viking Therapeutics in the 1st quarter valued at about $37,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Viking Therapeutics in the 2nd quarter valued at about $27,000. Finally, Spire Wealth Management bought a new stake in Viking Therapeutics in the 1st quarter valued at about $61,000. 76.03% of the stock is owned by institutional investors and hedge funds.

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.