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

Viking Therapeutics, Inc. (NASDAQ:VKTX - Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors acquired 23,521 call options on the company. This is an increase of 45% compared to the typical volume of 16,210 call options.

Viking Therapeutics Price Performance

VKTX traded down $0.19 during midday trading on Wednesday, hitting $28.95. 3,790,484 shares of the company's stock traded hands, compared to its average volume of 4,056,318. The company has a market cap of $3.25 billion, a PE ratio of -28.95 and a beta of 0.65. The stock's fifty day simple moving average is $26.19 and its 200-day simple moving average is $32.53. Viking Therapeutics has a one year low of $18.92 and a one year high of $81.73.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same quarter in the prior year, the business posted ($0.26) earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts expect that Viking Therapeutics will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on VKTX shares. HC Wainwright reiterated a "buy" rating and issued a $102.00 target price on shares of Viking Therapeutics in a report on Thursday, April 24th. Truist Financial reiterated a "buy" rating and issued a $75.00 target price (down from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. The Goldman Sachs Group started coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They issued a "neutral" rating and a $30.00 target price for the company. Scotiabank initiated coverage on shares of Viking Therapeutics in a report on Thursday, February 13th. They issued a "sector outperform" rating and a $102.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One investment 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.15.

Insider Buying and Selling 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 bought 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 directly owns 1,240 shares in the company, valued at $29,946. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VKTX. Norges Bank acquired a new stake in Viking Therapeutics during the fourth quarter worth $51,464,000. Massachusetts Financial Services Co. MA raised its holdings in Viking Therapeutics by 446.7% during 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 purchasing an additional 1,108,972 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Viking Therapeutics by 228.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock worth $59,540,000 after purchasing an additional 1,029,125 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Viking Therapeutics during the 4th quarter worth about $24,888,000. Finally, Man Group plc grew its position in shares of Viking Therapeutics by 3,373.4% during the 4th quarter. Man Group plc now owns 448,732 shares of the biotechnology company's stock worth $18,057,000 after buying an additional 435,813 shares during the period. Institutional investors and hedge funds own 76.03% of the company's stock.

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.