Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 9.7%

Viking Therapeutics Inc (NASDAQ:VKTX) was down 9.7% on Wednesday . The company traded as low as $6.00 and last traded at $6.02. Approximately 1,185,303 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 1,436,549 shares. The stock had previously closed at $6.67.

A number of equities analysts recently weighed in on VKTX shares. Chardan Capital upped their target price on shares of Viking Therapeutics from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $14.00 target price on shares of Viking Therapeutics in a research note on Wednesday, July 29th. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Viking Therapeutics in a research note on Thursday, September 10th. Raymond James restated a “buy” rating and set a $25.00 price objective on shares of Viking Therapeutics in a research note on Thursday, August 6th. Finally, BMO Capital Markets assumed coverage on shares of Viking Therapeutics in a research note on Thursday, June 4th. They set an “outperform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Viking Therapeutics has a consensus rating of “Buy” and a consensus price target of $16.33.

The firm has a market capitalization of $443.10 million, a price-to-earnings ratio of -13.84 and a beta of 2.00. The company’s 50 day moving average is $6.95 and its 200-day moving average is $6.49.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. Research analysts forecast that Viking Therapeutics Inc will post -0.61 earnings per share for the current fiscal year.

In other Viking Therapeutics news, Director Matthew W. Foehr sold 13,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.35, for a total value of $95,550.00. Following the transaction, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $192,937.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ligand Pharmaceuticals Inc sold 164,488 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $8.07, for a total transaction of $1,327,418.16. 3.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its holdings in shares of Viking Therapeutics by 4.4% during the second quarter. American International Group Inc. now owns 40,099 shares of the biotechnology company’s stock worth $289,000 after purchasing an additional 1,684 shares during the period. Royal Bank of Canada increased its holdings in shares of Viking Therapeutics by 3.7% during the first quarter. Royal Bank of Canada now owns 47,655 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 1,693 shares during the period. Brinker Capital Inc. increased its holdings in shares of Viking Therapeutics by 6.1% during the second quarter. Brinker Capital Inc. now owns 31,712 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 1,811 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Viking Therapeutics by 0.8% during the second quarter. Macquarie Group Ltd. now owns 332,645 shares of the biotechnology company’s stock worth $2,398,000 after purchasing an additional 2,545 shares during the period. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Viking Therapeutics by 6.9% during the second quarter. Virtus ETF Advisers LLC now owns 48,320 shares of the biotechnology company’s stock worth $348,000 after purchasing an additional 3,100 shares during the period. 55.30% of the stock is currently owned by institutional investors.

About Viking Therapeutics (NASDAQ:VKTX)

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase 2b clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis.

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