Viking Therapeutics (NASDAQ:VKTX) Shares Gap Up on Analyst Upgrade

Viking Therapeutics, Inc. (NASDAQ:VKTXGet Free Report) shares gapped up prior to trading on Thursday after StockNews.com upgraded the stock to a sell rating. The stock had previously closed at $24.48, but opened at $25.75. Viking Therapeutics shares last traded at $28.04, with a volume of 1,146,586 shares.

A number of other brokerages also recently commented on VKTX. Truist Financial reiterated a “buy” rating and set a $32.00 target price on shares of Viking Therapeutics in a research note on Monday, December 4th. Maxim Group boosted their price target on shares of Viking Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.38.

View Our Latest Report on VKTX

Insider Activity

In other news, CFO Greg Zante sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $17.90, for a total transaction of $268,500.00. Following the transaction, the chief financial officer now directly owns 180,730 shares in the company, valued at $3,235,067. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Greg Zante sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $17.90, for a total transaction of $268,500.00. Following the transaction, the chief financial officer now directly owns 180,730 shares in the company, valued at $3,235,067. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $701,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,079 shares of company stock valued at $9,729,653. Insiders own 4.40% of the company’s stock.

Institutional Trading of Viking Therapeutics

Several large investors have recently modified their holdings of the business. US Bancorp DE grew its position in shares of Viking Therapeutics by 66.5% in the fourth quarter. US Bancorp DE now owns 2,346 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 937 shares during the last quarter. Nemes Rush Group LLC purchased a new position in shares of Viking Therapeutics during the fourth quarter valued at approximately $93,000. Corient Private Wealth LLC purchased a new position in shares of Viking Therapeutics during the fourth quarter valued at approximately $400,000. UBS Group AG raised its stake in Viking Therapeutics by 136.4% during the fourth quarter. UBS Group AG now owns 339,726 shares of the biotechnology company’s stock worth $6,322,000 after purchasing an additional 196,015 shares during the period. Finally, Level Four Advisory Services LLC raised its stake in Viking Therapeutics by 87.5% during the fourth quarter. Level Four Advisory Services LLC now owns 31,374 shares of the biotechnology company’s stock worth $584,000 after purchasing an additional 14,638 shares during the period. 78.13% of the stock is currently owned by institutional investors and hedge funds.

Viking Therapeutics Stock Performance

The stock’s 50 day simple moving average is $20.68 and its two-hundred day simple moving average is $15.30.

Viking Therapeutics (NASDAQ:VKTXGet Free Report) last posted 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 previous year, the company posted ($0.26) EPS. As a group, equities analysts expect that Viking Therapeutics, Inc. will post -1.11 EPS for the current year.

About Viking Therapeutics

(Get Free Report)

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.

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