A share of Viking Therapeutics Inc. (NASDAQ:VKTX) closed at $8.44 per share on Monday, down from $8.68 day before. While Viking Therapeutics Inc. has underperformed by -2.76%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VKTX rose by 113.67%, with highs and lows ranging from $9.62 to $2.02, whereas the simple moving average jumped by 124.77% in the last 200 days.
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)
Viking Therapeutics Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. 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 be an extremely valuable indicator of volatility, and VKTX is registering an average volume of 3.51M. On a monthly basis, the volatility of the stock is set at 8.63%, whereas on a weekly basis, it is put at 5.25%, with a loss of -5.70% over the past seven days. Furthermore, long-term investors anticipate a median target price of $18.33, showing growth from the present price of $8.44, 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?
Besides checking the fundamentals, you should also know how many employees own shares in 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 11.78%. 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’s position in VKTX has increased by 55.63% in the first quarter. The company now owns 4,829,200 shares of the stock, with a value of $45.39 million, following the purchase of 1,726,169 additional shares during the last quarter. During the last quarter, the company picked up 0 additional shares for a total stake of worth $31.02 million, bringing number of shares owned by the company to 3,300,423.
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 $12.9 million. VKTX shares are owned by institutional investors to the tune of 35.70% at present.