Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 12.6% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) fell 12.6% during mid-day trading on Monday . The company traded as low as $29.20 and last traded at $29.76. 4,326,532 shares were traded during mid-day trading, a decline of 3% from the average session volume of 4,447,204 shares. The stock had previously closed at $34.07.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VKTX shares. HC Wainwright restated a “buy” rating and set a $102.00 price objective on shares of Viking Therapeutics in a research report on Thursday, February 6th. William Blair reissued an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Citigroup began coverage on Viking Therapeutics in a research note on Friday, February 7th. They issued a “neutral” rating and a $38.00 price objective for the company. Scotiabank initiated coverage on Viking Therapeutics in a report on Thursday, February 13th. They issued a “sector outperform” rating and a $102.00 price target on the stock. Finally, Raymond James upped their price target on Viking Therapeutics from $122.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Viking Therapeutics Price Performance

The company has a 50-day moving average of $35.55 and a 200 day moving average of $51.68. The company has a market cap of $3.10 billion, a PE ratio of -27.82 and a beta of 0.90.

Viking Therapeutics (NASDAQ:VKTX) last announced its 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 in the previous year, the firm posted ($0.25) earnings per share. Equities research analysts expect that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other news, COO Marianna Mancini sold 54,215 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.75, for a total value of $2,317,691.25. Following the completion of the sale, the chief operating officer now owns 374,134 shares in the company, valued at approximately $15,994,228.50. This trade represents a 12.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Greg Zante sold 50,309 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $2,150,709.75. Following the completion of the sale, the chief financial officer now directly owns 165,259 shares in the company, valued at $7,064,822.25. This trade represents a 23.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 299,014 shares of company stock worth $12,782,849 over the last quarter. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. United Advisor Group LLC purchased a new stake in Viking Therapeutics in the fourth quarter worth $234,000. Public Employees Retirement System of Ohio boosted its stake in shares of Viking Therapeutics by 5.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 47,547 shares of the biotechnology company’s stock valued at $1,913,000 after purchasing an additional 2,295 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Viking Therapeutics in the fourth quarter worth about $170,000. Waverly Advisors LLC increased its stake in Viking Therapeutics by 34.6% in the 4th quarter. Waverly Advisors LLC now owns 48,369 shares of the biotechnology company’s stock worth $1,946,000 after buying an additional 12,426 shares during the period. Finally, Woodline Partners LP lifted its holdings in Viking Therapeutics by 46.2% during the 4th quarter. Woodline Partners LP now owns 93,294 shares of the biotechnology company’s stock valued at $3,754,000 after buying an additional 29,475 shares in the last quarter. 76.03% of the stock is owned by institutional investors.

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.