Viking Therapeutics Inc (NASDAQ:VKTX) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 16,420,000 shares, an increase of 10.2% from the January 15th total of 14,900,000 shares. Currently, 25.6% of the company’s shares are short sold. Based on an average daily volume of 1,346,900 shares, the short-interest ratio is presently 12.2 days.
Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Viking Therapeutics in a report on Tuesday, November 5th. Maxim Group reiterated a “buy” rating and issued a $14.00 price objective on shares of Viking Therapeutics in a report on Wednesday, November 6th. BidaskClub downgraded Viking Therapeutics from a “sell” rating to a “strong sell” rating in a report on Thursday, January 16th. B. Riley assumed coverage on Viking Therapeutics in a report on Thursday, November 21st. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, ValuEngine downgraded Viking Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Viking Therapeutics currently has an average rating of “Buy” and a consensus price target of $18.76.
Shares of NASDAQ:VKTX opened at $6.64 on Friday. The stock has a market capitalization of $479.83 million, a price-to-earnings ratio of -20.12 and a beta of 2.35. The stock’s 50-day simple moving average is $7.18 and its two-hundred day simple moving average is $7.17. Viking Therapeutics has a 52-week low of $6.10 and a 52-week high of $11.03.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Viking Therapeutics by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,699,835 shares of the biotechnology company’s stock worth $30,709,000 after buying an additional 590,194 shares in the last quarter. Bailard Inc. boosted its holdings in shares of Viking Therapeutics by 1.9% during the 3rd quarter. Bailard Inc. now owns 323,600 shares of the biotechnology company’s stock worth $2,226,000 after purchasing an additional 6,000 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Viking Therapeutics during the 2nd quarter worth approximately $2,312,000. SG Americas Securities LLC grew its position in shares of Viking Therapeutics by 849.3% in the third quarter. SG Americas Securities LLC now owns 250,884 shares of the biotechnology company’s stock valued at $1,726,000 after purchasing an additional 224,456 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Viking Therapeutics in the third quarter valued at approximately $1,163,000. Institutional investors and hedge funds own 56.23% of the company’s stock.
About Viking Therapeutics
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 II clinical trials to treat patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol.
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