Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 5.7% - What's Next?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) dropped 5.7% on Friday . The stock traded as low as $26.98 and last traded at $26.96. Approximately 860,123 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 4,042,997 shares. The stock had previously closed at $28.58.

Analyst Upgrades and Downgrades

VKTX has been the subject of several recent research reports. Truist Financial reaffirmed a "buy" rating and set a $75.00 price target (down from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. HC Wainwright reiterated a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 24th. Cantor Fitzgerald upgraded Viking Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 29th. Morgan Stanley cut their price objective on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group began coverage on Viking Therapeutics in a research report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.15.

Viking Therapeutics Price Performance

The company's 50-day moving average is $26.46 and its 200-day moving average is $32.18. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -26.08 and a beta of 0.65.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last released 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 business earned ($0.26) EPS. Viking Therapeutics's quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other Viking Therapeutics news, Director Sarah Kathryn Rouan purchased 1,240 shares of Viking Therapeutics stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the transaction, the director now directly owns 1,240 shares in the company, valued at approximately $29,946. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Inspire Investing LLC lifted its position in shares of Viking Therapeutics by 41.3% during the first quarter. Inspire Investing LLC now owns 14,255 shares of the biotechnology company's stock worth $344,000 after purchasing an additional 4,170 shares in the last quarter. Strs Ohio acquired a new position in shares of Viking Therapeutics during the first quarter worth $604,000. Wealth Management Associates Inc. acquired a new position in shares of Viking Therapeutics during the first quarter worth $241,000. Flaharty Asset Management LLC acquired a new position in shares of Viking Therapeutics during the first quarter worth $56,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Viking Therapeutics by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company's stock worth $11,351,000 after purchasing an additional 6,696 shares in the last quarter. 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.