Viking Therapeutics (NASDAQ:VKTX) Shares Up 7% – Here’s What Happened

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) traded up 7% during mid-day trading on Tuesday . The stock traded as high as $41.30 and last traded at $41.4070. Approximately 1,254,491 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 2,680,370 shares. The stock had previously closed at $38.71.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Wolfe Research started coverage on Viking Therapeutics in a research report on Thursday, March 26th. They issued a “peer perform” rating for the company. HC Wainwright reiterated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a research note on Monday, March 23rd. Morgan Stanley set a $95.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 30th. Finally, Truist Financial started coverage on shares of Viking Therapeutics in a report on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.60.

Viking Therapeutics Stock Performance

The company has a 50-day moving average price of $32.37 and a 200-day moving average price of $32.78. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -9.65 and a beta of 0.66.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.36). During the same period in the prior year, the firm earned ($0.41) earnings per share. On average, research analysts expect that Viking Therapeutics, Inc. will post -4.7 earnings per share for the current fiscal year.

Institutional Trading of Viking Therapeutics

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in Viking Therapeutics by 536.3% during the fourth quarter. BNP Paribas Financial Markets now owns 992,695 shares of the biotechnology company’s stock worth $34,923,000 after buying an additional 836,686 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Viking Therapeutics by 58.7% in the third quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after acquiring an additional 771,704 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Viking Therapeutics by 41.8% in the third quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after acquiring an additional 616,526 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Viking Therapeutics by 6,315.6% during the second quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after acquiring an additional 587,350 shares during the last quarter. Finally, Artia Global Partners LP grew its position in shares of Viking Therapeutics by 392.1% during the fourth quarter. Artia Global Partners LP now owns 719,365 shares of the biotechnology company’s stock worth $25,307,000 after acquiring an additional 573,186 shares during the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

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.