Viking Therapeutics (NASDAQ:VKTX) Shares Down 4%

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) were down 4% during mid-day trading on Wednesday . The stock traded as low as $76.00 and last traded at $76.39. Approximately 1,519,612 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 5,494,025 shares. The stock had previously closed at $79.58.

Wall Street Analysts Forecast Growth

VKTX has been the subject of a number of research analyst reports. BTIG Research lifted their target price on Viking Therapeutics from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, March 26th. Raymond James lifted their price objective on Viking Therapeutics from $37.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, February 27th. HC Wainwright restated a "buy" rating and set a $90.00 target price on shares of Viking Therapeutics in a research note on Thursday, April 25th. Jefferies Financial Group initiated coverage on shares of Viking Therapeutics in a report on Thursday, March 7th. They set a "buy" rating and a $110.00 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of Viking Therapeutics in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Viking Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $112.25.

Viking Therapeutics Stock Down 4.0 %

The company has a fifty day moving average price of $70.77 and a 200-day moving average price of $36.50. The stock has a market capitalization of $8.43 billion, a P/E ratio of -82.90 and a beta of 1.05.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.01. During the same period in the prior year, the company posted ($0.25) earnings per share. As a group, research analysts expect that Viking Therapeutics, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan sold 25,000 shares of Viking Therapeutics stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $28.05, for a total value of $701,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Brian Lian sold 269,079 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $26.87, for a total transaction of $7,230,152.73. Following the sale, the chief executive officer now owns 2,184,882 shares in the company, valued at approximately $58,707,779.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sarah Kathryn Rouan sold 25,000 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $28.05, for a total value of $701,250.00. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Viking Therapeutics by 924.4% during the third quarter. SG Americas Securities LLC now owns 82,099 shares of the biotechnology company's stock valued at $909,000 after buying an additional 74,085 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Viking Therapeutics by 33.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,639 shares of the biotechnology company's stock worth $184,000 after purchasing an additional 4,136 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Viking Therapeutics by 15.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 137,569 shares of the biotechnology company's stock worth $1,566,000 after purchasing an additional 18,811 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Viking Therapeutics by 43.4% during the third quarter. Inspire Investing LLC now owns 27,647 shares of the biotechnology company's stock valued at $306,000 after purchasing an additional 8,372 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Viking Therapeutics by 270.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,048 shares of the biotechnology company's stock worth $122,000 after purchasing an additional 8,063 shares during 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.