Viking Therapeutics (NASDAQ:VKTX) Shares Down 4.7% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price was down 4.7% during mid-day trading on Monday . The company traded as low as $27.15 and last traded at $27.11. Approximately 436,886 shares traded hands during trading, a decline of 89% from the average daily volume of 4,079,641 shares. The stock had previously closed at $28.43.

Analysts Set New Price Targets

Several research analysts have recently commented on VKTX shares. Cantor Fitzgerald upgraded Viking Therapeutics to a “strong-buy” rating in a report on Tuesday, April 29th. HC Wainwright reaffirmed a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Thursday, April 24th. The Goldman Sachs Group initiated coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Citigroup assumed coverage on Viking Therapeutics in a research note on Friday, February 7th. They issued a “neutral” rating and a $38.00 target price on the stock. Finally, Piper Sandler lowered their price target on Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.15.

Viking Therapeutics Stock Up 4.3%

The company has a market capitalization of $3.22 billion, a P/E ratio of -28.67 and a beta of 0.75. The company has a 50-day moving average of $26.09 and a two-hundred day moving average of $35.74.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.26) EPS. As a group, equities analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was acquired at an average price of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now owns 1,240 shares in the company, valued at $29,946. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Viking Therapeutics by 75.9% in the 4th quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 309 shares during the period. Quarry LP grew its stake in shares of Viking Therapeutics by 1,621.4% during the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,135 shares during the period. YANKCOM Partnership purchased a new stake in shares of Viking Therapeutics during the 4th quarter valued at about $33,000. Parallel Advisors LLC lifted its stake in shares of Viking Therapeutics by 64.8% in the 1st quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 536 shares during the period. Finally, FIL Ltd boosted its holdings in shares of Viking Therapeutics by 116.8% in the fourth quarter. FIL Ltd now owns 1,203 shares of the biotechnology company’s stock worth $48,000 after buying an additional 648 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.