Recent Insider Activity Could Benefit Viking Therapeutics Inc. (VKTX)

CHWY Stock
CHWY Stock

Viking Therapeutics Inc.’s filing revealed that its Director Rowland Charles A Jr unloaded Company’s shares for reported $1.0 million on May 16. In the deal valued at $25.00 per share,40,000 shares were sold. As a result of this transaction, Rowland Charles A Jr now holds 30,000 shares worth roughly $ 0.41 million.

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Then, MACARTNEY LAWSON sold 16,000 shares, generating $384,000 in total proceeds. Upon selling the shares at $24.00, the Director now owns 47,965 shares.

Before that, Lian Brian sold 45,000 shares. Viking Therapeutics Inc. shares valued at $1,010,250 were divested by the President & CEO at a price of $22.45 per share. As a result of the transaction, Lian Brian now holds 2,197,963 shares, worth roughly $29.94 million.

PT values the company’s stock at a premium of 57.44 to its Friday closing price.

Price Performance Review of VKTX

On Friday, Viking Therapeutics Inc. [NASDAQ:VKTX] saw its stock jump 0.22% to $13.62. On the same session, the stock had its day’s lowest price of $13.40, but rose to a high of $13.845. Over the last five days, the stock has lost -2.58%. Viking Therapeutics Inc. shares have risen nearly 44.89% since the year began. Nevertheless, the stocks have risen 274.18% over the past one year. While a 52-week high of $25.72 was reached on 05/23/23, a 52-week low of $2.53 was recorded on 01/03/23. SMA at 50 days reached $15.62, while 200 days put it at $13.49. A total of 0.93 million shares were traded, compared to the trading of 1.26 million shares in the previous session.

Levels Of Support And Resistance For VKTX Stock

The 24-hour chart illustrates a support level at 13.40, which if violated will result in even more drops to 13.18. On the upside, there is a resistance level at 13.84. A further resistance level may holdings at 14.07. The Relative Strength Index (RSI) on the 14-day chart is 38.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.47%. Stochastics %K at 34.75% indicates the stock is a holding.

How much short interest is there in Viking Therapeutics Inc.?

A steep rise in short interest was recorded in Viking Therapeutics Inc. stocks on Aug 14, 2023, growing by 1.42 million shares to a total of 13.59 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 12.17 million shares. There was a rise of 10.45%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.67% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.51.

Viking Therapeutics Inc. [VKTX] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 14,912,560 shares, or roughly 14.91% of the outstanding VKTX shares. In other words, the investor’s shares have risen by 4,053,059 from its previous 13-F filing of 10859501.0. Additionally, BlackRock Fund Advisors increased 304.53% of its stake after which the total value it holdings stand at $82,013,276, while The Vanguard Group, Inc. added 22.02% of its stake to hold $70.35 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -461,568 shares of Viking Therapeutics Inc., while Viking Global Investors LP sold 1,589,443 shares. At present, AllianceBernstein LP is holding 2,961,561 shares valued at $42.94 million. Geode Capital Management LLC owned 1,846,439 shares of the company at the time of its most recent 13F filing, worth $26.77 million.

According to FactSet, Viking Therapeutics Inc.’s share price will average $33.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 150.18 percent from its previous closing price of $13.59. Analysts expect Viking Therapeutics Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $28.00. However, 11 analysts have rated VKTX stock as a Buy in their predictions for 2023.


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