Viking Therapeutics (NASDAQ:VKTX) Stock Price Up 3.4% - Here's What Happened

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report)'s stock price was up 3.4% on Wednesday . The company traded as high as $27.81 and last traded at $28.10. Approximately 369,089 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 4,061,632 shares. The stock had previously closed at $27.18.

Wall Street Analyst Weigh In

Several research firms have issued reports on VKTX. Cantor Fitzgerald upgraded shares of Viking Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 29th. Piper Sandler lowered their price objective on shares of Viking Therapeutics from $74.00 to $71.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. B. Riley reiterated a "buy" rating and set a $96.00 target price (down from $109.00) on shares of Viking Therapeutics in a research note on Friday, February 7th. Maxim Group lowered their price target on Viking Therapeutics from $120.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, 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 report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.15.

Viking Therapeutics Stock Performance

The stock has a market capitalization of $3.03 billion, a PE ratio of -26.98 and a beta of 0.75. The stock has a 50-day moving average price of $25.76 and a two-hundred day moving average price of $33.72.

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

Insider Buying and Selling

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was bought 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 approximately $29,946. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Trading of Viking Therapeutics

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in shares of Viking Therapeutics by 75.9% in the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company's stock worth $29,000 after buying an additional 309 shares in the last quarter. Quarry LP increased its stake in Viking Therapeutics by 1,621.4% in 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 during the last quarter. YANKCOM Partnership purchased a new stake in shares of Viking Therapeutics during the 4th quarter worth approximately $33,000. Parallel Advisors LLC boosted its position in shares of Viking Therapeutics by 64.8% during the 1st 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, FIL Ltd grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

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.