Short Interest in Viking Therapeutics Inc (VKTX) Increases By 12.1%

Viking Therapeutics Inc (NASDAQ:VKTX) was the target of a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 32,070,239 shares, a growth of 12.1% from the March 15th total of 28,599,170 shares. Approximately 50.2% of the shares of the stock are sold short. Based on an average daily volume of 4,874,050 shares, the days-to-cover ratio is presently 6.6 days.

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Viking Therapeutics in the fourth quarter valued at approximately $30,000. Lindbrook Capital LLC acquired a new stake in Viking Therapeutics during the 4th quarter valued at approximately $36,000. Great West Life Assurance Co. Can acquired a new stake in Viking Therapeutics during the 4th quarter valued at approximately $53,000. Meeder Asset Management Inc. increased its position in Viking Therapeutics by 63.5% during the 4th quarter. Meeder Asset Management Inc. now owns 7,309 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 2,839 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new stake in Viking Therapeutics during the 4th quarter valued at approximately $60,000. 65.13% of the stock is owned by institutional investors.

Shares of Viking Therapeutics stock traded up $0.31 on Friday, hitting $8.46. The stock had a trading volume of 2,600,761 shares, compared to its average volume of 3,031,611. Viking Therapeutics has a twelve month low of $4.05 and a twelve month high of $24.00. The company has a market capitalization of $609.36 million, a P/E ratio of -21.15 and a beta of 2.56.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. As a group, equities research analysts predict that Viking Therapeutics will post -0.45 EPS for the current fiscal year.

Several equities research analysts recently weighed in on VKTX shares. Svb Leerink started coverage on shares of Viking Therapeutics in a research report on Friday, February 22nd. They set a “mkt perform” rating for the company. William Blair reaffirmed an “outperform” rating on shares of Viking Therapeutics in a research report on Thursday, March 14th. Leerink Swann began coverage on shares of Viking Therapeutics in a research report on Friday, February 22nd. They set a “market perform” rating and a $10.00 price objective for the company. Raymond James lowered their target price on Viking Therapeutics from $43.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Thursday, March 14th. Finally, Maxim Group lowered their target price on Viking Therapeutics from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Viking Therapeutics has an average rating of “Buy” and a consensus price target of $22.54.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/05/05/short-interest-in-viking-therapeutics-inc-vktx-increases-by-12-1.html.

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.

Recommended Story: Moving Average Convergence Divergence (MACD)

Receive News & Ratings for Viking Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viking Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.