Director Rowland Charles A Jr sale 40,000 shares of Viking Therapeutics Inc. [VKTX]


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Viking Therapeutics Inc. shares valued at $1,000,000 were sold by Rowland Charles A Jr on May 16. At $25.00 per share, Rowland Charles A Jr sold 40,000 shares. The insider’s holdings dropped to 30,000 shares worth approximately $0.63 million following the completion of this transaction.

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Also, MACARTNEY LAWSON sold 16,000 shares, netting a total of over 384,000 in proceeds. Following the sale of shares at $24.00 each, the insider now holds 47,965 shares.

Before that, Lian Brian had sold 45,000 shares from its account. In a trade valued at $1,010,250, the President & CEO traded Viking Therapeutics Inc. shares for $22.45 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $45.94 million.

Analyzing VKTX Stock Performance

On Thursday, Viking Therapeutics Inc. [NASDAQ: VKTX] plunged -4.39% to $20.90. The stock’s lowest price that day was $20.05, but it reached a high of $21.87 in the same session. During the last five days, there has been a drop of approximately -9.84%. Over the course of the year, Viking Therapeutics Inc. shares have jumped approximately 122.34%. Shares of the company reached a 52-week high of $25.72 on 05/23/23 and a 52-week low of $7.97 on 01/03/23. A 50-day SMA is recorded $18.75, while a 200-day SMA reached $9.17. Nevertheless, trading volume fell to 3.3 million shares from 4.11 million shares the previous day.

Support And Resistance Levels for Viking Therapeutics Inc. (VKTX)

According to the 24-hour chart, there is a support level at 20.01, which, if violated, would cause prices to drop to 19.12. In the upper region, resistance lies at 21.83. The next price resistance is at 22.76. RSI (Relative Strength Index) is 47.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.05, which suggests the price will decrease in the coming days. Percent R is at 85.01%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Viking Therapeutics Inc. subject to short interest?

Stocks of Viking Therapeutics Inc. saw a sharp rise in short interest on May 14, 2023 jumping by 0.59 million shares to 12.03 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 11.44 million shares. A jump of 4.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.68 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.68.

Which companies own the most shares of Viking Therapeutics Inc. (VKTX)?

According to Fidelity Management & Research Co filings, the company currently owns 10,859,501 shares, which is about 10.91% of the total VKTX shares outstanding. The investor’s shares have appreciated by 10,857,732 from its previous 13-F filing of 1769.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $112,536,917. The Vanguard Group, Inc. acquire a 20.41% interest valued at $84.73 million while Millennium Management LLC sold a -544,504 stake. A total of 1,955,063 shares of Viking Therapeutics Inc. were sold by Viking Global Investors LP during the quarter, and 1,705,444 by Wasatch Advisors, Inc. In its current portfolio, Laurion Capital Management LP holds 1,697,352 shares valued at $36.17 million.

In terms of Viking Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $33.00 in the next 12 months, up nearly 55.54% from the previous closing price of $21.86. Analysts anticipate Viking Therapeutics Inc. stock to reach $40.00 by 2023, with the lowest price target being $24.00. In spite of this, 11 analysts ranked Viking Therapeutics Inc. stock as a Buy at the end of 2023.


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