The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Viking Therapeutics Inc shares valued at $715,850 were sold by SINGLETON J MATTHEW on Sep 20 ’24. At $69.50 per share, SINGLETON J MATTHEW sold 10,300 shares. The insider’s holdings dropped to 9,500 shares worth approximately $0.59 million following the completion of this transaction.
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Also, Lian Brian sold 216,130 shares, netting a total of over 15,308,553 in proceeds. Following the sale of shares at $70.83 each, the insider now holds 2,304,927 shares.
Before that, Lian Brian had added 216,130 shares to its account. In a trade valued at $3,978,372, the Officer bought Viking Therapeutics Inc shares for $18.41 each.
As published in their initiating research note from JP Morgan on September 11, 2024, Viking Therapeutics Inc [VKTX] has been an Overweight and the price target has been revised to $80. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in late June. As of May 16, 2024, Raymond James has increased its “an Outperform” rating to a “Strong buy” for VKTX. Earlier on March 26, 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 -2.59%. Over the course of the year, Viking Therapeutics Inc shares have jumped approximately 235.57%. 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 $61.03, while a 200-day SMA reached $55.93. Nevertheless, trading volume fell to 2.01 million shares from 3.45 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 61.54, which, if violated, would cause prices to drop to 60.62. In the upper region, resistance lies at 63.13. The next price resistance is at 63.80. RSI (Relative Strength Index) is 49.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 81.35%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
