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 $4,986,008 were sold by ZANTE GREG on May 03 ’24. At $74.69 per share, ZANTE GREG sold 66,756 shares. The insider’s holdings dropped to 174,854 shares worth approximately $10.77 million following the completion of this transaction.
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Also, Mancini Marianna sold 281,425 shares, netting a total of over 22,136,474 in proceeds. Following the sale of shares at $78.66 each, the insider now holds 348,508 shares.
Before that, Lian Brian had sold 45,000 shares from its account. In a trade valued at $1,345,500, the President & CEO traded Viking Therapeutics Inc shares for $29.90 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $131.75 million.
As published in a research note from Raymond James on May 16, 2024, Viking Therapeutics Inc [VKTX] has been rated up from an Outperform to a Strong buy and the price target has been revised to $116 from $115. Analysts at Oppenheimer resumed the stock at ‘”an Outperform”‘ outlook in a report released in late March. As of March 07, 2024, Jefferies has initiated its “Buy” rating for VKTX. Earlier on February 28, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for VKTX stock.
Analyzing VKTX Stock Performance
During the last five days, there has been a drop of approximately -10.85%. Over the course of the year, Viking Therapeutics Inc shares have jumped approximately 230.84%. Shares of the company reached a 52-week high of $99.41 on 02/28/24 and a 52-week low of $17.23 on 01/03/24. A 50-day SMA is recorded $71.71, while a 200-day SMA reached $34.28. Nevertheless, trading volume fell to 3.3 million shares from 3.12 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 60.11, which, if violated, would cause prices to drop to 58.66. In the upper region, resistance lies at 64.00. The next price resistance is at 66.44. RSI (Relative Strength Index) is 36.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.98, which suggests the price will decrease in the coming days. Percent R is at 97.69%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
