Viking Therapeutics (NASDAQ:VKTX) Shares Gap Up – Here’s Why

Viking Therapeutics, Inc. (NASDAQ:VKTX) gapped up prior to trading on Friday . The stock had previously closed at $41.49, but opened at $44.18. Viking Therapeutics shares last traded at $42.61, with a volume of 2,035,766 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a research note on Wednesday, November 20th. B. Riley initiated coverage on Viking Therapeutics in a research report on Friday, November 22nd. They issued a “buy” rating and a $109.00 target price on the stock. StockNews.com upgraded Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. Morgan Stanley restated an “overweight” rating and issued a $105.00 price objective on shares of Viking Therapeutics in a report on Thursday, September 12th. Finally, Piper Sandler assumed coverage on shares of Viking Therapeutics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $74.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $106.75.

Viking Therapeutics Stock Up 1.8 %

The firm has a market cap of $4.71 billion, a P/E ratio of -45.43 and a beta of 0.88. The stock’s 50-day moving average is $57.58 and its 200-day moving average is $57.81.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. During the same quarter last year, the business posted ($0.23) EPS. As a group, analysts expect that Viking Therapeutics, Inc. will post -0.97 EPS for the current fiscal year.

Insider Transactions at Viking Therapeutics

In other news, Director Sarah Kathryn Rouan sold 11,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.89, for a total transaction of $889,790.00. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $768,455. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawson Macartney sold 2,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $68.67, for a total transaction of $137,340.00. Following the completion of the sale, the director now directly owns 47,965 shares in the company, valued at approximately $3,293,756.55. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,687 shares of company stock valued at $11,115,671. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VKTX. Blue Trust Inc. acquired a new position in shares of Viking Therapeutics in the 3rd quarter worth approximately $26,000. GAMMA Investing LLC raised its stake in Viking Therapeutics by 124.6% during the third quarter. GAMMA Investing LLC now owns 438 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 243 shares in the last quarter. Stone House Investment Management LLC lifted its holdings in shares of Viking Therapeutics by 66.7% during the third quarter. Stone House Investment Management LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Viking Therapeutics in the 3rd quarter valued at $32,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Viking Therapeutics by 84.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Company Profile

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.