Investors Buy High Volume of Viking Therapeutics Call Options (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX) was the target of unusually large options trading on Tuesday. Stock investors purchased 16,378 call options on the company. This is an increase of 81% compared to the typical volume of 9,069 call options.

Viking Therapeutics Price Performance

Shares of Viking Therapeutics stock traded up $3.46 on Tuesday, hitting $35.83. The company had a trading volume of 3,267,908 shares, compared to its average volume of 2,616,800. The business has a 50-day simple moving average of $31.44 and a 200-day simple moving average of $32.64. The company has a market cap of $4.16 billion, a PE ratio of -8.63 and a beta of 0.69. Viking Therapeutics has a 52 week low of $22.96 and a 52 week high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same period last year, the company posted ($0.41) EPS. On average, equities research analysts predict that Viking Therapeutics will post -4.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $102.00 target price on shares of Viking Therapeutics in a research report on Monday, March 23rd. Truist Financial began coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $125.00 price target on shares of Viking Therapeutics in a research note on Friday, May 1st. Lake Street Capital started coverage on Viking Therapeutics in a report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.60.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PVG Asset Management Corp lifted its position in shares of Viking Therapeutics by 69.7% during the 1st quarter. PVG Asset Management Corp now owns 19,853 shares of the biotechnology company’s stock valued at $588,000 after acquiring an additional 8,154 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Viking Therapeutics by 32.6% during the first quarter. Parallel Advisors LLC now owns 14,020 shares of the biotechnology company’s stock worth $456,000 after purchasing an additional 3,447 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Viking Therapeutics during the first quarter worth $101,000. ADAR1 Capital Management LLC lifted its holdings in shares of Viking Therapeutics by 759.5% during the first quarter. ADAR1 Capital Management LLC now owns 227,717 shares of the biotechnology company’s stock valued at $7,410,000 after purchasing an additional 201,223 shares during the last quarter. Finally, Amundi purchased a new stake in shares of Viking Therapeutics during the first quarter valued at $210,000. Institutional investors 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.