Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 7.5% – Time to Sell?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) were down 7.5% during trading on Monday . The stock traded as low as $26.77 and last traded at $26.70. Approximately 1,488,918 shares were traded during trading, a decline of 67% from the average daily volume of 4,461,122 shares. The stock had previously closed at $28.87.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VKTX. Maxim Group reduced their target price on shares of Viking Therapeutics from $120.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Citigroup assumed coverage on Viking Therapeutics in a research note on Friday, February 7th. They set a “neutral” rating and a $38.00 price objective on the stock. Piper Sandler lowered their price objective on Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a report on Wednesday, November 20th. Finally, HC Wainwright restated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Viking Therapeutics Price Performance

The firm has a 50-day moving average price of $34.82 and a two-hundred day moving average price of $51.07. The firm has a market capitalization of $2.86 billion, a P/E ratio of -25.70 and a beta of 0.90.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.05). During the same quarter in the prior year, the company posted ($0.25) EPS. Sell-side analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Activity at Viking Therapeutics

In other news, CEO Brian Lian sold 194,490 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $42.75, for a total transaction of $8,314,447.50. Following the transaction, the chief executive officer now owns 2,366,570 shares in the company, valued at approximately $101,170,867.50. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Marianna Mancini sold 54,215 shares of Viking Therapeutics 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 of the company’s stock, valued at $15,994,228.50. The trade was a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 299,014 shares of company stock worth $12,782,849. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. purchased a new stake in Viking Therapeutics during the third quarter worth $26,000. Stone House Investment Management LLC raised its position in shares of Viking Therapeutics by 66.7% in the 3rd quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of Viking Therapeutics during the 4th quarter worth $33,000. FIL Ltd boosted its position in Viking Therapeutics by 116.8% during the fourth quarter. FIL Ltd now owns 1,203 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 648 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Viking Therapeutics by 170.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,351 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 851 shares during the last quarter. 76.03% of the stock is currently 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.