Viking Therapeutics (NASDAQ:VKTX) Sets New 1-Year Low – Should You Sell?

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $25.76 and last traded at $25.8630, with a volume of 3,053,937 shares traded. The stock had previously closed at $26.65.

Analyst Ratings Changes

A number of analysts have recently issued reports on VKTX shares. Canaccord Genuity Group boosted their target price on Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Oppenheimer set a $120.00 target price on shares of Viking Therapeutics in a research report on Tuesday, September 22nd. Morgan Stanley restated an “overweight” rating on shares of Viking Therapeutics in a report on Tuesday, September 22nd. UBS Group initiated coverage on shares of Viking Therapeutics in a research report on Wednesday. They set a “buy” rating and a $94.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Viking Therapeutics in a research report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.90.

Viking Therapeutics Stock Performance

The stock has a fifty day simple moving average of $32.37 and a two-hundred day simple moving average of $33.10. The stock has a market cap of $3.45 billion, a PE ratio of -5.87 and a beta of 0.66.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same quarter in the previous year, the company posted ($0.58) EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that Viking Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In related news, CFO Greg Zante sold 21,217 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total value of $710,132.99. Following the completion of the sale, the chief financial officer directly owned 212,204 shares of the company’s stock, valued at $7,102,467.88. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing 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, COO Marianna Mancini sold 18,217 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total value of $609,722.99. Following the completion of the sale, the chief operating officer 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. 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. Over the last quarter, insiders sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of VKTX. BlackRock Inc. acquired a new position in Viking Therapeutics in the second quarter valued at approximately $241,458,000. Artia Global Partners LP increased its stake 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 valued at $25,307,000 after acquiring an additional 573,186 shares during the period. ADAR1 Capital Management LLC bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth $22,393,000. Dimensional Fund Advisors LP raised its position in Viking Therapeutics by 18.0% in the first quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock worth $17,653,000 after acquiring an additional 82,941 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viking Therapeutics in the 2nd quarter worth approximately $20,699,000. 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 developing therapies for metabolic and endocrine disorders. The company’s research programs are aimed at conditions including obesity, metabolic dysfunction-associated steatohepatitis (MASH), and other diseases involving the liver and metabolism.

Viking’s leading program is VK2735, an investigational dual agonist of the glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors.