Viking Therapeutics Inc (NASDAQ:VKTX) shares dropped 11.6% on Wednesday . The company traded as low as $5.80 and last traded at $6.66. Approximately 1,877,944 shares were traded during mid-day trading, an increase of 21% from the average daily volume of 1,546,543 shares. The stock had previously closed at $5.97.
VKTX has been the topic of a number of recent research reports. Maxim Group restated a “buy” rating and issued a $8.00 target price on shares of Viking Therapeutics in a report on Friday, February 2nd. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Viking Therapeutics in a report on Friday, November 10th. Roth Capital initiated coverage on Viking Therapeutics in a report on Tuesday, November 21st. They issued a “buy” rating and a $5.00 target price on the stock. ValuEngine lowered Viking Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, BidaskClub raised Viking Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $7.00.
The stock has a market capitalization of $248.21 and a PE ratio of -8.15.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in shares of Viking Therapeutics during the fourth quarter valued at approximately $791,000. Creative Planning increased its position in shares of Viking Therapeutics by 600.0% during the fourth quarter. Creative Planning now owns 70,000 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 60,000 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Viking Therapeutics during the third quarter valued at approximately $108,000. Sphera Funds Management LTD. purchased a new stake in shares of Viking Therapeutics during the third quarter valued at approximately $554,000. Finally, Sabby Management LLC purchased a new stake in shares of Viking Therapeutics during the second quarter valued at approximately $525,000. 5.86% of the stock is owned by institutional investors.
About Viking Therapeutics
Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapies for metabolic and endocrine disorders. The Company’s clinical program, VK5211, is an orally available drug candidate, which is in Phase II clinical trial for acute rehabilitation following non-elective hip fracture surgery.
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