Viking Therapeutics (NASDAQ:VKTX) Shares Down 3% on Insider Selling

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price was down 3% during trading on Monday following insider selling activity. The stock traded as low as $67.75 and last traded at $68.33. Approximately 796,078 shares changed hands during trading, a decline of 82% from the average daily volume of 4,522,209 shares. The stock had previously closed at $70.47.

Specifically, CEO Brian Lian sold 216,130 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $70.83, for a total transaction of $15,308,487.90. Following the completion of the sale, the chief executive officer now owns 2,304,927 shares of the company’s stock, valued at $163,257,979.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Matthew Singleton sold 10,300 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $69.50, for a total value of $715,850.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at $660,250. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

VKTX has been the subject of several research analyst reports. Maxim Group reaffirmed a “buy” rating and set a $120.00 target price on shares of Viking Therapeutics in a research note on Tuesday, June 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Viking Therapeutics in a research note on Thursday, September 12th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Viking Therapeutics in a research note on Thursday, July 25th. StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. assumed coverage on shares of Viking Therapeutics in a research note on Wednesday, September 11th. They set an “overweight” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Viking Therapeutics Price Performance

The company has a market capitalization of $7.53 billion, a PE ratio of -73.47 and a beta of 1.00. The company’s 50 day simple moving average is $59.08 and its 200 day simple moving average is $63.01.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.06. During the same quarter last year, the business earned ($0.19) EPS. On average, equities analysts forecast that Viking Therapeutics, Inc. will post -1 EPS for the current year.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently made changes to their positions in VKTX. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Viking Therapeutics during the first quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Viking Therapeutics during the second quarter worth about $27,000. Lindbrook Capital LLC raised its holdings in Viking Therapeutics by 370.7% during the first quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 278 shares in the last quarter. LifeSteps Financial Inc. purchased a new position in shares of Viking Therapeutics during the 1st quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Viking Therapeutics by 140.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 802 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 469 shares during the period. 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.