Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 3.9%

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares dropped 3.9% during trading on Tuesday . The stock traded as low as $61.50 and last traded at $61.61. Approximately 608,682 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,614,356 shares. The stock had previously closed at $64.12.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Maxim Group reiterated a “buy” rating and set a $120.00 price target on shares of Viking Therapeutics in a research report on Tuesday, June 4th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Viking Therapeutics in a report on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $120.00 price target on shares of Viking Therapeutics in a research note on Monday, June 17th. Raymond James boosted their price objective on shares of Viking Therapeutics from $116.00 to $118.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley assumed coverage on Viking Therapeutics in a research report on Thursday, June 27th. They set an “overweight” rating and a $105.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Viking Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $111.78.

Viking Therapeutics Stock Performance

The firm has a fifty day moving average of $57.07 and a 200-day moving average of $63.19. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -60.75 and a beta of 1.03.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, July 24th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. During the same quarter last year, the company posted ($0.19) earnings per share. On average, analysts predict that Viking Therapeutics, Inc. will post -0.99 EPS for the current year.

Insider Transactions at Viking Therapeutics

In other news, COO Marianna Mancini sold 18,026 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $57.13, for a total transaction of $1,029,825.38. Following the transaction, the chief operating officer now owns 362,149 shares of the company’s stock, valued at $20,689,572.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Brian Lian sold 115,859 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $57.58, for a total transaction of $6,671,161.22. Following the completion of the sale, the chief executive officer now owns 2,354,927 shares of the company’s stock, valued at approximately $135,596,696.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Marianna Mancini sold 18,026 shares of Viking Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $57.13, for a total value of $1,029,825.38. Following the completion of the transaction, the chief operating officer now owns 362,149 shares of the company’s stock, valued at $20,689,572.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,241 shares of company stock valued at $17,786,475. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors have recently modified their holdings of VKTX. Massmutual Trust Co. FSB ADV bought a new stake in Viking Therapeutics during the first quarter worth approximately $25,000. Lindbrook Capital LLC raised its stake in shares of Viking Therapeutics by 370.7% in the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock worth $29,000 after buying an additional 278 shares in the last quarter. LifeSteps Financial Inc. bought a new position in Viking Therapeutics during the first quarter valued at about $37,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viking Therapeutics during the second quarter worth about $27,000. Finally, Spire Wealth Management bought a new stake in shares of Viking Therapeutics in the 1st quarter worth approximately $61,000. 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.