Viking Therapeutics (NASDAQ:VKTX) Reaches New 52-Week Low – Time to Sell?

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $29.30 and last traded at $29.52, with a volume of 651898 shares. The stock had previously closed at $30.17.

Analyst Upgrades and Downgrades

VKTX has been the topic of several research reports. Piper Sandler decreased their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. B. Riley reiterated a “buy” rating and set a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a research report on Friday. Citigroup began coverage on Viking Therapeutics in a research note on Friday. They issued a “neutral” rating and a $38.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Thursday, February 6th. Finally, Raymond James lifted their target price on shares of Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.92.

Viking Therapeutics Stock Performance

The stock has a market capitalization of $3.32 billion, a PE ratio of -29.82 and a beta of 0.90. The business’s 50-day moving average is $39.63 and its two-hundred day moving average is $53.68.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period last year, the business posted ($0.25) EPS. Equities analysts forecast that Viking Therapeutics, Inc. will post -1.41 EPS for the current year.

Insiders Place Their Bets

In other news, COO Marianna Mancini sold 54,215 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.75, for a total transaction of $2,317,691.25. Following the completion of the transaction, the chief operating officer now directly owns 374,134 shares of the company’s stock, valued at $15,994,228.50. This trade represents a 12.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Lian sold 194,490 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.75, for a total value of $8,314,447.50. Following the transaction, the chief executive officer now owns 2,366,570 shares of the company’s stock, valued at $101,170,867.50. This represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,014 shares of company stock worth $12,782,849. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new stake in Viking Therapeutics during the 3rd quarter worth about $26,000. GAMMA Investing LLC grew its holdings in shares of Viking Therapeutics by 124.6% during the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after buying an additional 243 shares in the last quarter. Stone House Investment Management LLC raised its position in shares of Viking Therapeutics by 66.7% in the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Viking Therapeutics during the third quarter valued at approximately $32,000. Finally, CNB Bank acquired a new stake in Viking Therapeutics during the third quarter worth approximately $49,000. 76.03% of the stock is owned by institutional investors and hedge funds.

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.