Viking Therapeutics (NASDAQ:VKTX) Shares Gap Down – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $46.70, but opened at $43.09. Viking Therapeutics shares last traded at $42.37, with a volume of 2,250,599 shares trading hands.

Wall Street Analyst Weigh In

VKTX has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $102.00 price target on shares of Viking Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Viking Therapeutics in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $80.00 price objective for the company. B. Riley began coverage on shares of Viking Therapeutics in a research report on Friday, November 22nd. They issued a “buy” rating and a $109.00 price target for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $105.00 price objective on shares of Viking Therapeutics in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Viking Therapeutics presently has an average rating of “Buy” and an average price target of $106.75.

Viking Therapeutics Price Performance

The business’s 50-day simple moving average is $58.96 and its two-hundred day simple moving average is $58.20. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of -45.75 and a beta of 0.88.

Viking Therapeutics (NASDAQ:VKTX) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same quarter last year, the company earned ($0.23) EPS. Equities research analysts forecast that Viking Therapeutics, Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lawson Macartney sold 2,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $68.67, for a total value of $137,340.00. Following the transaction, the director now directly owns 47,965 shares of the company’s stock, valued at $3,293,756.55. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J Matthew Singleton sold 10,300 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $69.50, for a total value of $715,850.00. Following the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $660,250. This represents a 52.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,117 shares of company stock valued at $27,140,009 over the last 90 days. 4.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several large investors have recently added to or reduced their stakes in VKTX. Blue Trust Inc. purchased a new stake in Viking Therapeutics in the 3rd quarter valued at $26,000. GAMMA Investing LLC grew its position in Viking Therapeutics by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 243 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in Viking Therapeutics in the 3rd quarter valued at about $32,000. Stone House Investment Management LLC lifted its position in shares of Viking Therapeutics by 66.7% during the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Viking Therapeutics by 84.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after buying an additional 253 shares during the last quarter. Institutional investors 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.