Viking Therapeutics (NASDAQ:VKTX) Shares Gap Up – Time to Buy?

Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX) gapped up prior to trading on Monday . The stock had previously closed at $31.03, but opened at $32.60. Viking Therapeutics shares last traded at $34.2180, with a volume of 1,886,955 shares traded.

Wall Street Analyst Weigh In

VKTX has been the subject of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $99.00 target price on shares of Viking Therapeutics in a report on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viking Therapeutics in a research report on Wednesday, January 21st. Canaccord Genuity Group raised their price objective on Viking Therapeutics from $106.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Zacks Research upgraded Viking Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Viking Therapeutics Trading Down 1.9%

The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -10.42 and a beta of 0.75. The firm has a 50-day moving average of $32.35 and a 200-day moving average of $32.44.

Viking Therapeutics (NASDAQ:VKTX) last posted its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter last year, the firm posted ($0.32) earnings per share. On average, equities research analysts anticipate that Viking Therapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Viking Therapeutics

In other news, CFO Greg Zante sold 57,661 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.90, for a total value of $1,897,046.90. Following the sale, the chief financial officer directly owned 189,891 shares of the company’s stock, valued at $6,247,413.90. This represents a 23.29% 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, CEO Brian Lian sold 233,409 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.96, for a total transaction of $7,693,160.64. Following the completion of the sale, the chief executive officer owned 2,499,291 shares in the company, valued at $82,376,631.36. The trade was a 8.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 364,731 shares of company stock worth $12,053,627 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Several hedge funds have recently added to or reduced their stakes in VKTX. Raleigh Capital Management Inc. lifted its holdings in shares of Viking Therapeutics by 58.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 347 shares during the period. Allworth Financial LP raised its position 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 acquiring an additional 352 shares in the last quarter. Quattro Advisors LLC acquired a new position in Viking Therapeutics in the fourth quarter valued at approximately $37,000. Fifth Third Bancorp boosted its position in Viking Therapeutics by 169.3% in the 4th quarter. Fifth Third Bancorp now owns 1,077 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 677 shares in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in Viking Therapeutics in the 4th quarter worth approximately $39,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

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.