Viking Therapeutics Inc (NASDAQ:VKTX) closed Monday at $11.77 per share, up from $11.27 a day earlier. While Viking Therapeutics Inc has overperformed by 4.44%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VKTX rose by 187.07%, with highs and lows ranging from $25.72 to $3.54, whereas the simple moving average fell by -21.97% in the last 200 days.
On May 31, 2023, ROTH MKM started tracking Viking Therapeutics Inc (NASDAQ: VKTX) recommending Buy.
Analysis of Viking Therapeutics Inc (VKTX)
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Viking Therapeutics Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -31.12% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 28.44, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and VKTX is recording an average volume of 1.98M. On a monthly basis, the volatility of the stock is set at 6.86%, whereas on a weekly basis, it is put at 8.10%, with a gain of 18.53% over the past seven days. Furthermore, long-term investors anticipate a median target price of $33.80, showing growth from the present price of $11.77, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 10.66%. 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 75.56% 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. Fidelity Management & Research Co’s position in VKTX has increased by 0.19% in the first quarter. The company now owns 14,941,083 shares of the stock, with a value of $146.57 million, following the purchase of 28,523 additional shares during the last quarter. SSgA Funds Management, Inc. made another increased to its shares in VKTX during the first quarter, upping its stake by 33.03%. During the last quarter, the company picked up 1,591,686 additional shares for a total stake of worth $62.89 million, bringing number of shares owned by the company to 6,411,062.
During the first quarter, BlackRock Fund Advisors added a 264,514 position in VKTX. Viking Global Investors LP purchased an additional 1.29 million shares in the last quarter, increasing its holdings by 28.10%, now holding 5.86 million shares worth $57.47 million. At the end of the first quarter, The Vanguard Group, Inc. increased its VKTX holdings by 3.45% and now holds 5.02 million VKTX shares valued at $49.24 million with the added 0.17 million shares during the period. VKTX shares are owned by institutional investors to the tune of 75.56% at present.