Viking Therapeutics Target of Unusually Large Options Trading (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) was the target of unusually large options trading on Wednesday. Investors acquired 47,999 call options on the stock. This represents an increase of 189% compared to the average daily volume of 16,605 call options.

Viking Therapeutics Price Performance

NASDAQ:VKTX traded up $0.75 during mid-day trading on Friday, reaching $29.36. 4,442,732 shares of the company's stock traded hands, compared to its average volume of 4,103,782. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -29.36 and a beta of 0.84. The company has a 50 day moving average price of $26.18 and a 200-day moving average price of $39.39. Viking Therapeutics has a 12-month low of $18.92 and a 12-month high of $81.86.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same period last year, the firm earned ($0.26) EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts forecast that Viking Therapeutics will post -1.56 EPS for the current year.

Analysts Set New Price Targets

VKTX has been the subject of a number of recent analyst reports. Maxim Group reduced their price objective on shares of Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Morgan Stanley cut their price objective on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. HC Wainwright reaffirmed a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research report on Thursday, April 24th. Piper Sandler cut their price target on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Viking Therapeutics in a report on Friday, February 7th. They set a "neutral" rating and a $38.00 price objective for the company. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Viking Therapeutics has an average rating of "Moderate Buy" and an average target price of $87.15.

Insider Activity at Viking Therapeutics

In other 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 of the company's stock, valued at $29,946. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kintayl Capital LP raised its position in shares of Viking Therapeutics by 96.0% during the 1st quarter. Kintayl Capital LP now owns 99,973 shares of the biotechnology company's stock valued at $2,414,000 after purchasing an additional 48,979 shares during the period. Wealthfront Advisers LLC grew its position in shares of Viking Therapeutics by 76.1% during the first quarter. Wealthfront Advisers LLC now owns 8,759 shares of the biotechnology company's stock worth $212,000 after purchasing an additional 3,786 shares in the last quarter. Signaturefd LLC lifted its holdings in Viking Therapeutics by 126.8% in the 1st quarter. Signaturefd LLC now owns 2,830 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 1,582 shares in the last quarter. CWM LLC lifted its holdings in Viking Therapeutics by 36.1% in the 1st quarter. CWM LLC now owns 3,542 shares of the biotechnology company's stock worth $86,000 after purchasing an additional 939 shares in the last quarter. Finally, Caas Capital Management LP grew its holdings in Viking Therapeutics by 151.1% during the 1st quarter. Caas Capital Management LP now owns 43,207 shares of the biotechnology company's stock valued at $1,043,000 after buying an additional 26,000 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.