Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s stock price traded down 5.8% on Monday . The company traded as low as $24.58 and last traded at $24.51. 1,943,881 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 4,033,500 shares. The stock had previously closed at $26.01.
Wall Street Analyst Weigh In
Several research firms have weighed in on VKTX. HC Wainwright restated a "buy" rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Thursday, April 24th. Morgan Stanley dropped their price objective on Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Truist Financial reissued a "buy" rating and issued a $75.00 target price (down previously from $95.00) on shares of Viking Therapeutics in a research note on Monday, April 28th. Cantor Fitzgerald upgraded Viking Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group assumed coverage on Viking Therapeutics in a research note on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $87.15.
Read Our Latest Stock Analysis on Viking Therapeutics
Viking Therapeutics Stock Performance
The firm's fifty day simple moving average is $26.90 and its 200 day simple moving average is $31.00. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -21.81 and a beta of 0.65.
Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). The company's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned ($0.26) earnings per share. Analysts forecast that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.
Insider Activity
In other news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the completion of the purchase, the director now owns 1,240 shares of the company's stock, valued at $29,946. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Viking Therapeutics
A number of large investors have recently added to or reduced their stakes in VKTX. FIL Ltd grew its position in shares of Viking Therapeutics by 116.8% in the fourth quarter. FIL Ltd now owns 1,203 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 648 shares during the last quarter. Quarry LP boosted its position in shares of Viking Therapeutics by 1,621.4% during the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 1,135 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Viking Therapeutics by 170.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,351 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 851 shares during the last quarter. Parallel Advisors LLC grew its position in Viking Therapeutics by 64.8% in the first quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 536 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Viking Therapeutics during the 4th quarter worth approximately $63,000. Institutional investors own 76.03% of the company's stock.
About Viking Therapeutics
(
Get Free Report)
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.
See Also
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