Viking Therapeutics (NASDAQ:VKTX) Shares Up 4.8% – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares shot up 4.8% during mid-day trading on Friday . The stock traded as high as $45.00 and last traded at $43.48. 4,098,534 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 4,463,451 shares. The stock had previously closed at $41.49.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VKTX shares. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a research note on Tuesday, October 15th. William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Morgan Stanley reissued an “overweight” rating and set a $105.00 price target on shares of Viking Therapeutics in a research report on Thursday, September 12th. B. Riley initiated coverage on 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, Piper Sandler began coverage on Viking Therapeutics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $74.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Viking Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $106.75.

Viking Therapeutics Trading Up 4.2 %

The company has a market capitalization of $4.82 billion, a PE ratio of -46.47 and a beta of 0.88. The business has a fifty day moving average of $58.05 and a 200 day moving average of $57.95.

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

Insider Buying and Selling

In other Viking Therapeutics news, CFO Greg Zante sold 131,687 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $76.61, for a total value of $10,088,541.07. Following the sale, the chief financial officer now directly owns 149,366 shares of the company’s stock, valued at approximately $11,442,929.26. This trade represents a 46.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawson Macartney sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $68.67, for a total value of $137,340.00. Following the completion of the transaction, the director now directly owns 47,965 shares in the company, valued at $3,293,756.55. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,687 shares of company stock worth $11,115,671 in the last 90 days. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VKTX. Signaturefd LLC raised its position in shares of Viking Therapeutics by 16.2% during the 3rd quarter. Signaturefd LLC now owns 1,351 shares of the biotechnology company’s stock valued at $86,000 after acquiring an additional 188 shares in the last quarter. Stone House Investment Management LLC raised 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. Keudell Morrison Wealth Management boosted its holdings in Viking Therapeutics by 5.9% during the third quarter. Keudell Morrison Wealth Management now owns 4,306 shares of the biotechnology company’s stock worth $273,000 after buying an additional 241 shares in the last quarter. GAMMA Investing LLC increased its stake 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. Finally, Massmutual Trust Co. FSB ADV lifted its position 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 valued at $35,000 after acquiring an additional 253 shares in the last quarter. 76.03% of the stock is owned by hedge funds and other 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.