Viking Therapeutics Inc (NASDAQ:VKTX) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 9,960,000 shares, a decrease of 16.4% from the June 30th total of 11,920,000 shares. Currently, 14.1% of the company’s stock are sold short. Based on an average trading volume of 1,560,000 shares, the short-interest ratio is currently 6.4 days.
In other Viking Therapeutics news, Director Matthew W. Foehr sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.35, for a total transaction of $95,550.00. Following the transaction, the director now owns 26,250 shares in the company, valued at approximately $192,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in VKTX. Great West Life Assurance Co. Can bought a new position in Viking Therapeutics in the 4th quarter valued at approximately $30,000. Stifel Financial Corp lifted its holdings in shares of Viking Therapeutics by 59.4% during the 4th quarter. Stifel Financial Corp now owns 34,854 shares of the biotechnology company’s stock valued at $290,000 after buying an additional 12,991 shares during the period. Amalgamated Bank bought a new position in shares of Viking Therapeutics during the 4th quarter valued at $84,000. Goldman Sachs Group Inc. lifted its holdings in shares of Viking Therapeutics by 49.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 142,755 shares of the biotechnology company’s stock valued at $1,145,000 after buying an additional 47,213 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Viking Therapeutics by 8.7% during the 4th quarter. Bank of New York Mellon Corp now owns 311,293 shares of the biotechnology company’s stock valued at $2,497,000 after buying an additional 24,963 shares during the period. 54.21% of the stock is currently owned by institutional investors and hedge funds.
VKTX stock opened at $7.02 on Friday. Viking Therapeutics has a 12-month low of $3.26 and a 12-month high of $8.87. The stock’s 50 day simple moving average is $7.11 and its 200 day simple moving average is $6.41.
Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. As a group, analysts forecast that Viking Therapeutics will post -0.6 EPS for the current year.
A number of research analysts have weighed in on VKTX shares. Maxim Group assumed coverage on Viking Therapeutics in a report on Saturday, May 2nd. They set a “buy” rating and a $14.00 target price on the stock. B. Riley restated a “buy” rating and issued a $12.00 price target on shares of Viking Therapeutics in a research note on Thursday. BidaskClub downgraded Viking Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Chardan Capital restated a “buy” rating and issued a $15.00 price target on shares of Viking Therapeutics in a research note on Wednesday. Finally, BTIG Research assumed coverage on Viking Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $9.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $14.78.
Viking Therapeutics Company Profile
Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta, which is in Phase 2b clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis.
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