Viking Therapeutics (NASDAQ:VKTX) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $34.20 and traded as low as $28.01. Viking Therapeutics shares last traded at $29.56, with a volume of 3,211,560 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VKTX shares. Morgan Stanley lifted their target price on shares of Viking Therapeutics from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Zacks Research cut shares of Viking Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald set a $105.00 price objective on Viking Therapeutics in a research note on Thursday, October 23rd. B. Riley raised Viking Therapeutics to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.14.

Viking Therapeutics Stock Up 0.5%

The company’s fifty day moving average price is $34.20 and its two-hundred day moving average price is $32.79. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -13.94 and a beta of 0.75.

Insiders Place Their Bets

In other Viking Therapeutics news, CFO Greg Zante sold 57,661 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.90, for a total value of $1,897,046.90. Following the transaction, the chief financial officer owned 189,891 shares of the company’s stock, valued at approximately $6,247,413.90. The trade was a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew W. Foehr sold 16,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $35.11, for a total value of $561,760.00. Following the sale, the director owned 132,036 shares in the company, valued at $4,635,783.96. The trade was a 10.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 364,731 shares of company stock worth $12,053,627. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VKTX. Norges Bank acquired a new stake in Viking Therapeutics in the second quarter worth about $46,846,000. Two Sigma Investments LP boosted its stake in shares of Viking Therapeutics by 58.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,085,487 shares of the biotechnology company’s stock valued at $54,807,000 after purchasing an additional 771,704 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Viking Therapeutics by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,092,840 shares of the biotechnology company’s stock valued at $55,000,000 after purchasing an additional 616,526 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Viking Therapeutics by 6,315.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 596,650 shares of the biotechnology company’s stock worth $15,811,000 after buying an additional 587,350 shares during the period. Finally, Duquesne Family Office LLC acquired a new stake in shares of Viking Therapeutics during the 2nd quarter worth approximately $14,556,000. Institutional investors and hedge funds own 76.03% of the company’s stock.

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.