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.
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.
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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