Viking Therapeutics (NASDAQ:VKTX) Stock Price Down 3.5% on Insider Selling

Viking Therapeutics, Inc. (NASDAQ:VKTX) shares traded down 3.5% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $73.69 and last traded at $74.27. 1,478,583 shares were traded during mid-day trading, a decline of 73% from the average session volume of 5,420,153 shares. The stock had previously closed at $76.97.

Specifically, CEO Brian Lian sold 269,079 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $26.87, for a total transaction of $7,230,152.73. Following the sale, the chief executive officer now owns 2,184,882 shares in the company, valued at approximately $58,707,779.34. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Sarah Kathryn Rouan sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $28.05, for a total value of $701,250.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Lian sold 269,079 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $26.87, for a total value of $7,230,152.73. Following the completion of the transaction, the chief executive officer now owns 2,184,882 shares in the company, valued at approximately $58,707,779.34. The disclosure for this sale can be found here. In the last three months, insiders sold 642,260 shares of company stock valued at $35,054,299. 4.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Viking Therapeutics in a report on Friday, February 23rd. Jefferies Financial Group began coverage on Viking Therapeutics in a report on Thursday, March 7th. They issued a “buy” rating and a $110.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Viking Therapeutics in a report on Thursday, April 25th. Truist Financial increased their price objective on Viking Therapeutics from $32.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, BTIG Research increased their price objective on Viking Therapeutics from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.25.

Viking Therapeutics Stock Up 1.6 %

The stock has a market cap of $8.62 billion, a P/E ratio of -84.10 and a beta of 1.12. The business has a 50-day simple moving average of $73.99 and a 200-day simple moving average of $38.37.

Viking Therapeutics (NASDAQ:VKTX) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. During the same period in the prior year, the firm posted ($0.25) EPS. On average, analysts predict that Viking Therapeutics, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC boosted its position in shares of Viking Therapeutics by 370.7% in the first quarter. Lindbrook Capital LLC now owns 353 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 278 shares during the period. Massmutual Trust Co. FSB ADV bought a new stake in shares of Viking Therapeutics in the first quarter valued at approximately $25,000. 9258 Wealth Management LLC boosted its position in shares of Viking Therapeutics by 2.9% in the first quarter. 9258 Wealth Management LLC now owns 12,379 shares of the biotechnology company’s stock valued at $1,015,000 after acquiring an additional 351 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of Viking Therapeutics in the first quarter valued at approximately $37,000. Finally, Global Retirement Partners LLC boosted its position in shares of Viking Therapeutics by 125.6% in the first quarter. Global Retirement Partners LLC now owns 1,015 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 565 shares during the period. 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.