Viking Therapeutics (NASDAQ:VKTX) Trading 1.9% Higher

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares were up 1.9% during trading on Tuesday . The company traded as high as $68.48 and last traded at $68.21. Approximately 333,223 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 5,903,988 shares. The stock had previously closed at $66.95.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VKTX shares. Jefferies Financial Group started coverage on shares of Viking Therapeutics in a research note on Thursday, March 7th. They issued a “buy” rating and a $110.00 price target on the stock. Raymond James upped their price target on shares of Viking Therapeutics from $37.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Truist Financial upped their price target on shares of Viking Therapeutics from $32.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Maxim Group reiterated a “buy” rating and issued a $120.00 price target on shares of Viking Therapeutics in a research note on Friday, March 15th. Finally, William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.25.

Viking Therapeutics Stock Down 2.2 %

The stock’s fifty day simple moving average is $64.25 and its 200-day simple moving average is $32.68.

Viking Therapeutics (NASDAQ:VKTX) last issued its quarterly earnings results on Wednesday, February 7th. The biotechnology company reported ($0.25) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.25). During the same quarter in the prior year, the company posted ($0.26) EPS. On average, equities research analysts expect that Viking Therapeutics, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other news, CEO Brian Lian sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $23.95, for a total transaction of $838,250.00. Following the completion of the sale, the chief executive officer now owns 2,264,882 shares of the company’s stock, valued at approximately $54,243,923.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Sarah Kathryn Rouan sold 30,000 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $23.05, for a total value of $691,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Lian sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $23.95, for a total transaction of $838,250.00. Following the completion of the transaction, the chief executive officer now directly owns 2,264,882 shares of the company’s stock, valued at approximately $54,243,923.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 359,079 shares of company stock valued at $9,461,153. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Viking Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV bought a new position in Viking Therapeutics in the 1st quarter valued at approximately $25,000. Virtus ETF Advisers LLC increased its position in Viking Therapeutics by 9.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,817 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 399 shares during the period. Sei Investments Co. increased its position in Viking Therapeutics by 0.9% in the 1st quarter. Sei Investments Co. now owns 66,575 shares of the biotechnology company’s stock valued at $1,108,000 after acquiring an additional 605 shares during the period. New York State Common Retirement Fund increased its position in Viking Therapeutics by 1.6% in the 4th quarter. New York State Common Retirement Fund now owns 39,321 shares of the biotechnology company’s stock valued at $732,000 after acquiring an additional 609 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Viking Therapeutics by 20.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,526 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 775 shares during the period. Institutional investors own 76.03% of the company’s stock.

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.