Viking Therapeutics (NASDAQ:VKTX) Trading Down 4.4%

Viking Therapeutics, Inc. (NASDAQ:VKTX) traded down 4.4% during trading on Tuesday . The company traded as low as $61.66 and last traded at $62.18. 1,597,149 shares were traded during trading, a decline of 65% from the average session volume of 4,521,376 shares. The stock had previously closed at $65.01.

Analyst Ratings Changes

VKTX has been the subject of several analyst reports. Maxim Group reiterated a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a research note on Tuesday, June 4th. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a report on Monday, June 17th. JPMorgan Chase & Co. initiated coverage on Viking Therapeutics in a report on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Viking Therapeutics in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Viking Therapeutics Trading Down 4.1 %

The firm has a fifty day moving average price of $59.19 and a 200 day moving average price of $62.95. The firm has a market cap of $6.88 billion, a PE ratio of -66.86 and a beta of 1.00.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -1 earnings per share for the current year.

Insider Activity at Viking Therapeutics

In other news, CEO Brian Lian sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.90, for a total value of $69,900.00. Following the sale, the chief executive officer now directly owns 2,354,927 shares of the company’s stock, valued at approximately $164,609,397.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Brian Lian sold 1,000 shares of Viking Therapeutics stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.90, for a total value of $69,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,354,927 shares in the company, valued at $164,609,397.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Marianna Mancini sold 18,026 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $57.13, for a total value 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 ninety days, insiders have sold 516,671 shares of company stock worth $33,810,813. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VKTX. Lindbrook Capital LLC lifted its position in shares of Viking Therapeutics by 370.7% during the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 278 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Viking Therapeutics during the 1st quarter worth about $25,000. 9258 Wealth Management LLC raised its position in shares of Viking Therapeutics by 2.9% during the 1st quarter. 9258 Wealth Management LLC now owns 12,379 shares of the biotechnology company’s stock worth $1,015,000 after acquiring an additional 351 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Viking Therapeutics by 3.1% during the second quarter. Los Angeles Capital Management LLC now owns 12,278 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 372 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Viking Therapeutics by 5.5% in the second quarter. Crossmark Global Holdings Inc. now owns 7,457 shares of the biotechnology company’s stock valued at $395,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

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.