Viking Therapeutics (NASDAQ:VKTX) Shares Down 5.8% – Time to Sell?

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares fell 5.8% during trading on Monday . The stock traded as low as $24.58 and last traded at $24.51. 1,943,881 shares traded hands during trading, a decline of 52% from the average session volume of 4,033,500 shares. The stock had previously closed at $26.01.

Analyst Ratings Changes

VKTX has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $75.00 price target (down previously from $95.00) on shares of Viking Therapeutics in a research report on Monday, April 28th. The Goldman Sachs Group assumed coverage on Viking Therapeutics in a report on Tuesday, April 8th. They issued a “neutral” rating and a $30.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $102.00 price target on shares of Viking Therapeutics in a report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald upgraded shares of Viking Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Viking Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $87.15.

Viking Therapeutics Trading Down 3.5%

The company has a market cap of $2.82 billion, a price-to-earnings ratio of -21.81 and a beta of 0.65. The stock’s 50-day moving average is $26.90 and its 200-day moving average is $31.00.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). During the same quarter in the previous year, the business earned ($0.26) earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Activity at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan acquired 1,240 shares of Viking Therapeutics stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $24.15 per share, with a total value of $29,946.00. Following the transaction, the director now owns 1,240 shares of the company’s stock, valued at approximately $29,946. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors have recently modified their holdings of VKTX. Norges Bank bought a new stake in Viking Therapeutics during the fourth quarter worth $51,464,000. Massachusetts Financial Services Co. MA increased its position in shares of Viking Therapeutics by 446.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company’s stock valued at $54,615,000 after purchasing an additional 1,108,972 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Viking Therapeutics by 228.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company’s stock worth $59,540,000 after purchasing an additional 1,029,125 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Viking Therapeutics in the 4th quarter worth about $24,888,000. Finally, Man Group plc boosted its holdings in shares of Viking Therapeutics by 3,373.4% in the 4th quarter. Man Group plc now owns 448,732 shares of the biotechnology company’s stock worth $18,057,000 after buying an additional 435,813 shares during the last quarter. 76.03% of the stock is owned by institutional investors.

About Viking Therapeutics

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.