Traders Buy High Volume of Viking Therapeutics Call Options (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) was the target of unusually large options trading on Tuesday. Traders bought 23,521 call options on the stock. This represents an increase of approximately 45% compared to the average daily volume of 16,210 call options.

Viking Therapeutics Price Performance

NASDAQ VKTX traded down $2.50 on Friday, reaching $26.08. The company had a trading volume of 6,079,091 shares, compared to its average volume of 4,068,641. The firm has a 50-day moving average of $26.46 and a 200-day moving average of $32.18. Viking Therapeutics has a 1 year low of $18.92 and a 1 year high of $81.73. The firm has a market capitalization of $2.93 billion, a PE ratio of -26.08 and a beta of 0.65.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly 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). The firm'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. As a group, sell-side analysts expect that Viking Therapeutics will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Sarah Kathryn Rouan acquired 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, for a total transaction of $29,946.00. Following the completion of the acquisition, the director now owns 1,240 shares in the company, valued at $29,946. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Viking Therapeutics during the 4th quarter valued at about $51,464,000. Massachusetts Financial Services Co. MA lifted its position in shares of Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock worth $54,615,000 after acquiring an additional 1,108,972 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Viking Therapeutics by 228.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock worth $59,540,000 after acquiring an additional 1,029,125 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Viking Therapeutics in the 4th quarter worth approximately $24,888,000. Finally, Man Group plc lifted its position in shares of Viking Therapeutics by 3,373.4% in the 4th quarter. Man Group plc now owns 448,732 shares of the biotechnology company's stock worth $18,057,000 after acquiring an additional 435,813 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.