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

Viking Therapeutics, Inc. (NASDAQ:VKTX) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 23,521 call options on the company. This represents an increase of approximately 45% compared to the average volume of 16,210 call options.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald raised Viking Therapeutics to a “strong-buy” rating in a report on Tuesday, April 29th. The Goldman Sachs Group started coverage on shares of Viking Therapeutics in a report on Tuesday, April 8th. They set a “neutral” rating and a $30.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $75.00 target price (down from $95.00) on shares of Viking Therapeutics in a report on Monday, April 28th. Morgan Stanley dropped their price target on Viking Therapeutics from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $102.00 price objective on shares of Viking Therapeutics in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Viking Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $87.15.

Viking Therapeutics Stock Performance

VKTX traded up $1.81 during midday trading on Tuesday, reaching $29.38. 3,305,845 shares of the company were exchanged, compared to its average volume of 4,038,687. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -29.03 and a beta of 0.65. Viking Therapeutics has a one year low of $18.92 and a one year high of $81.73. The company’s fifty day moving average price is $25.97 and its 200 day moving average price is $32.58.

Viking Therapeutics (NASDAQ:VKTX) last announced its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same period last year, the company posted ($0.26) earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Viking Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sarah Kathryn Rouan bought 1,240 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of $24.15 per share, with a total value of $29,946.00. Following the acquisition, the director now directly owns 1,240 shares in the company, valued at $29,946. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Viking Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Viking Therapeutics by 75.9% during the fourth quarter. Blue Trust Inc. now owns 716 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 309 shares during the last quarter. Quarry LP increased its position in shares of Viking Therapeutics by 1,621.4% during the 1st quarter. Quarry LP now owns 1,205 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,135 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Viking Therapeutics by 64.8% during the 1st quarter. Parallel Advisors LLC now owns 1,363 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 536 shares during the period. FIL Ltd boosted its holdings in shares of Viking Therapeutics by 116.8% in the 4th quarter. FIL Ltd now owns 1,203 shares of the biotechnology company’s stock worth $48,000 after buying an additional 648 shares during the last quarter. Finally, NBC Securities Inc. grew its position in Viking Therapeutics by 222,100.0% during the first quarter. NBC Securities Inc. now owns 2,222 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 2,221 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, 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.