As of Tuesday, Viking Therapeutics Inc.’s (NASDAQ:VKTX) stock closed at $4.06, up from $4.01 the previous day. While Viking Therapeutics Inc. has overperformed by 1.25%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VKTX fell by -26.18%, with highs and lows ranging from $5.82 to $2.02, whereas the simple moving average jumped by 29.51% in the last 200 days.
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On July 29, 2021, BTIG Research started tracking Viking Therapeutics Inc. (NASDAQ: VKTX) recommending Buy. A report published by Raymond James on May 25, 2021, Downgraded its rating to ‘Outperform’ for VKTX. BMO Capital Markets also rated VKTX shares as ‘Outperform’, setting a target price of $14 on the company’s shares in an initiating report dated June 05, 2020. Chardan Capital Markets Initiated an Buy rating on May 05, 2020, and assigned a price target of $15. BTIG Research initiated its ‘Buy’ rating for VKTX, as published in its report on May 01, 2020. Oppenheimer’s report from July 16, 2019 suggests a price prediction of $12 for VKTX shares, giving the stock a ‘Outperform’ rating. Stifel also rated the stock as ‘Buy’.
Analysis of Viking Therapeutics Inc. (VKTX)
One of the most important indicators of Viking Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -35.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and VKTX is recording 733.21K average volume. On a monthly basis, the volatility of the stock is set at 7.10%, whereas on a weekly basis, it is put at 5.87%, with a loss of -9.17% over the past seven days. Furthermore, long-term investors anticipate a median target price of $17.44, showing growth from the present price of $4.06, which can serve as yet another indication of whether VKTX is worth investing in or should be passed over.
How Do You Analyze Viking Therapeutics Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 11.62%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 35.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in VKTX shares?
The recent increase in stakes in VKTX appears to be a result of several institutional investors and hedge funds increasing their positions. Millennium Management LLC made another increased to its shares in VKTX during the first quarter, upping its stake by 136.02%. During the last quarter, the company picked up 1,788,275 additional shares for a total stake of worth $12.72 million, bringing number of shares owned by the company to 3,103,031.
During the first quarter, Balyasny Asset Management LP added a 30,613 position in VKTX. BlackRock Fund Advisors purchased an additional 32387.0 shares in the last quarter, increasing its holdings by 2.42%, now holding 1.37 million shares worth $5.63 million. VKTX shares are owned by institutional investors to the tune of 35.70% at present.