Viking Therapeutics (NASDAQ:VKTX) Posts Earnings Results, Misses Expectations By $0.49 EPS

Viking Therapeutics (NASDAQ:VKTX) released its quarterly earnings results on Wednesday. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.49), FiscalAI reports.

Viking Therapeutics Price Performance

Shares of Viking Therapeutics stock traded down $0.20 on Wednesday, hitting $28.55. 3,637,242 shares of the company’s stock traded hands, compared to its average volume of 3,387,265. The company has a fifty day moving average of $33.62 and a two-hundred day moving average of $32.65. Viking Therapeutics has a one year low of $18.92 and a one year high of $43.15. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -13.47 and a beta of 0.75.

Insiders Place Their Bets

In other news, CEO Brian Lian sold 233,409 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the sale, the chief executive officer owned 2,499,291 shares of the company’s stock, valued at $82,376,631.36. This trade represents a 8.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Greg Zante sold 57,661 shares of Viking Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total transaction of $1,897,046.90. Following the completion of the sale, the chief financial officer owned 189,891 shares of the company’s stock, valued at $6,247,413.90. This represents a 23.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 364,731 shares of company stock valued at $12,053,627 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Viking Therapeutics

Several large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in Viking Therapeutics by 29.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after buying an additional 481 shares during the period. Banque Cantonale Vaudoise increased its holdings in shares of Viking Therapeutics by 16.7% during the third quarter. Banque Cantonale Vaudoise now owns 3,752 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 536 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Viking Therapeutics by 167.0% during the third quarter. Parallel Advisors LLC now owns 4,854 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 3,036 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Viking Therapeutics by 307.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,974 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 5,263 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Viking Therapeutics in the 2nd quarter worth $196,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VKTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a report on Wednesday, January 21st. Canaccord Genuity Group increased their price objective on Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Morgan Stanley raised their target price on Viking Therapeutics from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. B. Riley Financial upgraded Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Zacks Research cut Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Viking Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.36.

About Viking Therapeutics

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.