Viking Therapeutics (NASDAQ:VKTX) Shares Down 7.2%

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) were down 7.2% during trading on Monday . The stock traded as low as $13.71 and last traded at $13.71. Approximately 327,728 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,093,411 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

Several analysts recently commented on VKTX shares. Roth Capital reiterated a “buy” rating on shares of Viking Therapeutics in a research report on Tuesday, May 30th. StockNews.com upgraded shares of Viking Therapeutics to a “sell” rating in a research report on Friday, September 8th. Finally, Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Viking Therapeutics in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.25.

Viking Therapeutics Stock Performance

The stock’s fifty day moving average price is $14.58 and its 200-day moving average price is $17.06. The firm has a market cap of $1.38 billion, a PE ratio of -15.07 and a beta of 0.52.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, July 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Sell-side analysts forecast that Viking Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viking Therapeutics

Large investors have recently added to or reduced their stakes in the business. Artia Global Partners LP acquired a new stake in Viking Therapeutics in the 4th quarter valued at about $1,231,000. Tower Research Capital LLC TRC grew its stake in Viking Therapeutics by 262.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 12,973 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 9,391 shares during the last quarter. California State Teachers Retirement System acquired a new stake in Viking Therapeutics in the 1st quarter valued at about $1,010,000. Lisanti Capital Growth LLC acquired a new stake in shares of Viking Therapeutics during the 1st quarter worth about $5,819,000. Finally, Rhenman & Partners Asset Management AB acquired a new stake in shares of Viking Therapeutics during the 1st quarter worth about $3,119,000. 78.13% of the stock is owned by institutional investors and hedge funds.

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.