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

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) were down 2.4% on Friday . The company traded as low as $46.60 and last traded at $46.71. Approximately 620,701 shares traded 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 Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Viking Therapeutics in a report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of Viking Therapeutics in a report on Wednesday, September 25th. HC Wainwright restated a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Tuesday, November 26th. William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a research report on Wednesday, November 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Viking Therapeutics in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Viking Therapeutics presently has a consensus rating of “Buy” and an average price target of $106.75.

Viking Therapeutics Stock Down 2.7 %

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

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same period in the prior year, the company posted ($0.23) EPS. On average, analysts anticipate that Viking Therapeutics, Inc. will post -0.97 EPS for the current fiscal 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 that occurred on Friday, September 20th. The shares were sold at an average price of $69.50, for a total value of $715,850.00. Following the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $660,250. This trade represents a 52.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sarah Kathryn Rouan sold 11,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.89, for a total transaction of $889,790.00. Following the sale, the director now owns 9,500 shares in the company, valued at approximately $768,455. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,117 shares of company stock worth $27,140,009. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in Viking Therapeutics in the third quarter worth approximately $26,000. GAMMA Investing LLC lifted its holdings in shares of Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 243 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Viking Therapeutics in the 3rd quarter valued at $32,000. Stone House Investment Management LLC grew its holdings in shares of Viking Therapeutics by 66.7% during the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Viking Therapeutics by 84.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 253 shares during the period. 76.03% of the stock is currently owned by institutional investors.

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.