Viking Therapeutics Target of Unusually High Options Trading (NASDAQ:VKTX)

Viking Therapeutics, Inc. (NASDAQ:VKTX) saw some unusual options trading on Wednesday. Investors purchased 15,473 call options on the company. This is an increase of 48% compared to the typical daily volume of 10,481 call options.

Viking Therapeutics Stock Down 2.3%

NASDAQ:VKTX traded down $0.78 during mid-day trading on Wednesday, hitting $32.91. 1,170,597 shares of the company traded hands, compared to its average volume of 2,486,764. The stock’s fifty day moving average price is $35.21 and its 200-day moving average price is $33.55. Viking Therapeutics has a one year low of $22.96 and a one year high of $43.15. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of -7.06 and a beta of 0.69.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.11. During the same quarter in the prior year, the company earned ($0.58) EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts predict that Viking Therapeutics will post -4.47 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group increased their price target on shares of Viking Therapeutics from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Lake Street Capital started coverage on shares of Viking Therapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $89.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Finally, Truist Financial started coverage on Viking Therapeutics in a research report on Wednesday, May 27th. They set a “buy” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $710,132.99. Following the transaction, the chief financial officer owned 212,204 shares in the company, valued at approximately $7,102,467.88. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian Lian sold 148,517 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.32, for a total transaction of $4,948,586.44. Following the completion of the transaction, the chief executive officer directly owned 2,572,441 shares in the company, valued at approximately $85,713,734.12. The trade was a 5.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 187,951 shares of company stock valued at $6,268,442. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Timothy G. Youngquist 2020 Irrevocable Trust lifted its holdings in Viking Therapeutics by 141.6% during the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 271,849 shares of the biotechnology company’s stock worth $10,605,000 after buying an additional 159,349 shares in the last quarter. Cornerstone Capital Inc. purchased a new position in shares of Viking Therapeutics in the 2nd quarter valued at $3,334,000. BlackRock Inc. purchased a new position in shares of Viking Therapeutics during the second quarter worth about $241,458,000. Dimensional Fund Advisors LP lifted its holdings in shares of Viking Therapeutics by 18.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 542,516 shares of the biotechnology company’s stock valued at $17,653,000 after purchasing an additional 82,941 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at about $1,783,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

About Viking Therapeutics

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.