Viking Therapeutics (NASDAQ:VKTX) Sets New 12-Month Low – Time to Sell?

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $20.27 and last traded at $21.28, with a volume of 5677945 shares changing hands. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Maxim Group decreased their price target 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. Piper Sandler reduced their target price on Viking Therapeutics from $74.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Raymond James raised their price target on Viking Therapeutics from $122.00 to $125.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Citigroup initiated coverage on Viking Therapeutics in a research report on Friday, February 7th. They set a “neutral” rating and a $38.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Viking Therapeutics Stock Up 4.1 %

The stock has a market cap of $2.49 billion, a PE ratio of -22.03 and a beta of 0.84. The business’s 50-day simple moving average is $29.07 and its 200-day simple moving average is $44.73.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.05). During the same period last year, the company posted ($0.25) EPS. As a group, equities research analysts anticipate that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other Viking Therapeutics news, Director Sarah Kathryn Rouan acquired 1,240 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $24.15 per share, with a total value of $29,946.00. Following the completion of the purchase, the director now directly owns 1,240 shares of the company’s stock, valued at approximately $29,946. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several large investors have recently made changes to their positions in VKTX. Norges Bank bought a new position in Viking Therapeutics in the 4th quarter valued at approximately $51,464,000. Massachusetts Financial Services Co. MA grew its stake in shares of Viking Therapeutics by 446.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company’s stock valued at $54,615,000 after purchasing an additional 1,108,972 shares during the period. Ameriprise Financial Inc. increased its position in shares of Viking Therapeutics by 228.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company’s stock valued at $59,540,000 after purchasing an additional 1,029,125 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Viking Therapeutics in the 4th quarter worth approximately $24,888,000. Finally, Man Group plc grew its position in Viking Therapeutics by 3,373.4% during the fourth quarter. Man Group plc now owns 448,732 shares of the biotechnology company’s stock valued at $18,057,000 after buying an additional 435,813 shares during the period. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

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.