Viking Therapeutics (NASDAQ:VKTX) Shares Down 6.1% Following Insider Selling

Viking Therapeutics, Inc. (NASDAQ:VKTX)’s stock price was down 6.1% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $33.32 and last traded at $33.2630. Approximately 2,284,178 shares changed hands during trading, an increase of 31% from the average daily volume of 1,746,962 shares. The stock had previously closed at $35.42.

Specifically, Director Matthew W. Foehr sold 16,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $35.11, for a total value of $561,760.00. Following the completion of the sale, the director owned 132,036 shares of the company’s stock, valued at $4,635,783.96. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Lian sold 233,409 shares of Viking Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.96, for a total value of $7,693,160.64. Following the sale, the chief executive officer owned 2,499,291 shares in the company, valued at $82,376,631.36. This represents a 8.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, COO Marianna Mancini sold 57,661 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.98, for a total value of $1,901,659.78. Following the sale, the chief operating officer directly owned 409,190 shares of the company’s stock, valued at $13,495,086.20. This represents a 12.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Viking Therapeutics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. B. Riley raised shares of Viking Therapeutics to a “strong-buy” rating in a research report on Thursday, October 23rd. Morgan Stanley upped their price target on Viking Therapeutics from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, Cantor Fitzgerald set a $105.00 price objective on Viking Therapeutics in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Viking Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $87.14.

Viking Therapeutics Stock Up 0.2%

The company has a market cap of $3.66 billion, a P/E ratio of -15.27 and a beta of 0.71. The business has a fifty day simple moving average of $36.32 and a two-hundred day simple moving average of $32.40.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, October 22nd. The biotechnology company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.14). The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) EPS. On average, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CNB Bank increased its stake in shares of Viking Therapeutics by 5.1% in the 3rd quarter. CNB Bank now owns 5,756 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 279 shares in the last quarter. Harbour Investments Inc. lifted its position in Viking Therapeutics by 2.2% during the second quarter. Harbour Investments Inc. now owns 14,961 shares of the biotechnology company’s stock valued at $396,000 after purchasing an additional 326 shares in the last quarter. Allworth Financial LP grew its holdings in Viking Therapeutics by 58.4% during the second quarter. Allworth Financial LP now owns 955 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 352 shares during the period. Montag A & Associates Inc. increased its position in Viking Therapeutics by 6.1% in the second quarter. Montag A & Associates Inc. now owns 6,220 shares of the biotechnology company’s stock worth $165,000 after buying an additional 358 shares in the last quarter. Finally, Lewis Asset Management LLC raised its stake in shares of Viking Therapeutics by 0.9% in the second quarter. Lewis Asset Management LLC now owns 44,060 shares of the biotechnology company’s stock worth $1,168,000 after buying an additional 385 shares during the period. Hedge funds and other 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.