Viking Therapeutics (NASDAQ:VKTX) Shares Gap Down to $78.01

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $78.01, but opened at $76.26. Viking Therapeutics shares last traded at $74.90, with a volume of 1,055,818 shares trading hands.

Analysts Set New Price Targets

VKTX has been the topic of several analyst reports. Maxim Group reiterated a “buy” rating and issued a $120.00 target price on shares of Viking Therapeutics in a report on Friday, March 15th. Oppenheimer boosted their target price on shares of Viking Therapeutics from $116.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. BTIG Research increased their price target on Viking Therapeutics from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Truist Financial restated a “buy” rating and set a $120.00 target price on shares of Viking Therapeutics in a research report on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Viking Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $112.38.

Read Our Latest Report on VKTX

Viking Therapeutics Stock Down 3.0 %

The firm has a 50 day moving average price of $72.27 and a 200 day moving average price of $42.01.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. During the same period in the prior year, the firm earned ($0.25) EPS. As a group, equities research analysts predict that Viking Therapeutics, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In related news, COO Marianna Mancini sold 281,425 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the completion of the sale, the chief operating officer now directly owns 348,508 shares of the company’s stock, valued at $27,413,639.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Marianna Mancini sold 281,425 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $78.66, for a total transaction of $22,136,890.50. Following the completion of the sale, the chief operating officer now owns 348,508 shares in the company, valued at approximately $27,413,639.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Greg Zante sold 66,756 shares of Viking Therapeutics stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $74.69, for a total transaction of $4,986,005.64. Following the completion of the sale, the chief financial officer now directly owns 174,854 shares in the company, valued at approximately $13,059,845.26. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Several large investors have recently added to or reduced their stakes in VKTX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viking Therapeutics by 33.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,639 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 4,136 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Viking Therapeutics by 15.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 137,569 shares of the biotechnology company’s stock worth $1,566,000 after purchasing an additional 18,811 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Viking Therapeutics by 270.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,048 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 8,063 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in Viking Therapeutics by 3.1% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 40,557 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 1,226 shares in the last quarter. Finally, Quantum Private Wealth LLC increased its position in shares of Viking Therapeutics by 2.0% during the third quarter. Quantum Private Wealth LLC now owns 66,650 shares of the biotechnology company’s stock valued at $738,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

(Get Free Report)

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.

Further Reading

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