Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 5.6% – Here’s What Happened

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price dropped 5.6% during trading on Tuesday . The stock traded as low as $23.35 and last traded at $23.20. Approximately 1,122,666 shares were traded during trading, a decline of 72% from the average daily volume of 3,997,229 shares. The stock had previously closed at $24.57.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VKTX. B. Riley restated a “buy” rating and issued a $96.00 price objective (down previously from $109.00) on shares of Viking Therapeutics in a report on Friday, February 7th. The Goldman Sachs Group began coverage on shares of Viking Therapeutics in a research note on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 target price for the company. Maxim Group cut their price target on shares of Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 7th. 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 on the stock. Finally, Citigroup started coverage on Viking Therapeutics in a report on Friday, February 7th. They set a “neutral” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Viking Therapeutics Trading Down 6.6 %

The firm has a market capitalization of $2.58 billion, a P/E ratio of -22.95 and a beta of 0.84. The company has a 50 day moving average of $27.53 and a 200-day moving average of $42.81.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same period last year, the company earned ($0.25) EPS. As a group, sell-side analysts forecast that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sarah Kathryn Rouan bought 1,240 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of $24.15 per share, for a total transaction of $29,946.00. Following the transaction, the director now owns 1,240 shares in the company, valued at $29,946. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI boosted its position in shares of Viking Therapeutics by 2,265.3% during the 3rd quarter. National Bank of Canada FI now owns 3,548 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 3,398 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Viking Therapeutics in the 3rd quarter valued at $492,000. MML Investors Services LLC increased its stake in shares of Viking Therapeutics by 193.1% in the 3rd quarter. MML Investors Services LLC now owns 20,352 shares of the biotechnology company’s stock valued at $1,288,000 after purchasing an additional 13,409 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Viking Therapeutics by 12.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,252 shares of the biotechnology company’s stock worth $2,865,000 after buying an additional 5,155 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Viking Therapeutics during the 3rd quarter worth $354,000. 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.