Viking Therapeutics Target of Unusually High Options Trading (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 15,473 call options on the company. This is an increase of approximately 48% compared to the typical daily volume of 10,481 call options.

Insider Transactions at Viking Therapeutics

In related news, COO Marianna Mancini sold 18,217 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the sale, the chief operating officer directly owned 422,760 shares of the company’s stock, valued at $14,149,777.20. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Greg Zante sold 21,217 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $710,132.99. Following the transaction, the chief financial officer owned 212,204 shares in the company, valued at $7,102,467.88. The trade was a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 187,951 shares of company stock worth $6,268,442 over the last 90 days. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in Viking Therapeutics by 13.0% during the first quarter. Royal Bank of Canada now owns 347,716 shares of the biotechnology company’s stock valued at $8,396,000 after buying an additional 39,886 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Viking Therapeutics in the 1st quarter valued at approximately $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Viking Therapeutics by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,028 shares of the biotechnology company’s stock valued at $11,351,000 after acquiring an additional 6,696 shares in the last quarter. Prudential Financial Inc. acquired a new position in Viking Therapeutics in the second quarter worth $196,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Viking Therapeutics by 29.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 481 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Analysts Set New Price Targets

VKTX has been the subject of several recent analyst reports. Lake Street Capital initiated coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They issued a “buy” rating and a $89.00 target price for the company. Zacks Research upgraded shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Canaccord Genuity Group increased their price objective on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Truist Financial started coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They set a “buy” rating and a $83.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.62.

Viking Therapeutics Trading Down 2.3%

VKTX stock traded down $0.78 during trading on Wednesday, reaching $32.91. The stock had a trading volume of 1,170,597 shares, compared to its average volume of 2,486,764. Viking Therapeutics has a 1-year low of $22.96 and a 1-year high of $43.15. The company has a market capitalization of $3.84 billion, a P/E ratio of -7.06 and a beta of 0.69. The firm has a fifty day moving average price of $35.21 and a 200 day moving average price of $33.55.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same period last year, the firm posted ($0.58) earnings per share. The firm’s revenue was up .0% on a year-over-year basis. Sell-side analysts predict that Viking Therapeutics will post -4.47 EPS for the current year.

Viking Therapeutics Company Profile

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non?alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company’s lead programs include VK2809, a thyroid hormone receptor?beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.