Viking Therapeutics Inc [NASDAQ: VKTX] traded at a low on Monday, posting a -11.62 loss after which it closed the day’ session at $63.44. The company report on March 4, 2024 at 4:45 PM that Viking Therapeutics Announces Closing of Public Offering of Common Stock Including Full Exercise of Underwriters’ Option to Purchase Additional Shares.
Viking Therapeutics, Inc. (“Viking”) (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced the closing of its previously announced underwritten public offering of 7,441,650 shares of its common stock at a price to the public of $85.00 per share, which included the exercise in full by the underwriters of their option to purchase up to 970,650 additional shares of common stock. The gross proceeds to Viking from this offering were approximately $632.5 million, before deducting underwriting discounts and commissions and offering expenses.
Morgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and Truist Securities acted as joint book-running managers for the offering. Oppenheimer & Co. acted as lead manager for the offering. BTIG, H.C. Wainwright & Co., Maxim Group LLC and Laidlaw & Company (U.K.) Ltd. acted as co-managers for the offering.
The results of the trading session contributed to over 8354491 shares changing hands. Over the past one week, the price volatility of Viking Therapeutics Inc stands at 11.75% while the volatility over the past one month is 12.82%.
The market cap for VKTX stock reached $6.94 billion, with 100.11 million shares outstanding and 99.72 million shares in the current float. Compared to the average trading volume of 5.73M shares, VKTX reached a trading volume of 8354491 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Viking Therapeutics Inc [VKTX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VKTX shares is $100.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VKTX stock is a recommendation set at 1.09. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Viking Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 07, 2024. While these analysts kept the previous recommendation, Oppenheimer dropped their target price from $46 to $116. The new note on the price target was released on February 28, 2024, representing the official price target for Viking Therapeutics Inc stock. Previously, the target price had yet another raise to $32, while ROTH MKM analysts kept a Buy rating on VKTX stock. On March 28, 2023, analysts increased their price target for VKTX shares from 15 to 25.
The Average True Range (ATR) for Viking Therapeutics Inc is set at 8.85 The Price to Book ratio for the last quarter was 18.23, with the Price to Cash per share for the same quarter was set at 3.31.
How has VKTX stock performed recently?
Viking Therapeutics Inc [VKTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.55. With this latest performance, VKTX shares gained by 119.59% in over the last four-week period, additionally plugging by 299.24% over the last 6 months – not to mention a rise of 476.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VKTX stock in for the last two-week period is set at 54.48, with the RSI for the last a single of trading hit 48.60, and the three-weeks RSI is set at 57.58 for Viking Therapeutics Inc [VKTX]. The present Moving Average for the last 50 days of trading for this stock 36.61, while it was recorded at 77.66 for the last single week of trading, and 20.34 for the last 200 days.
Viking Therapeutics Inc [VKTX]: Deeper insight into the fundamentals
Viking Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.19 and a Current Ratio set at 19.19.
Earnings analysis for Viking Therapeutics Inc [VKTX]
With the latest financial reports released by the company, Viking Therapeutics Inc posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VKTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Viking Therapeutics Inc go to 40.00%.
Insider trade positions for Viking Therapeutics Inc [VKTX]
The top three institutional holders of VKTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VKTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VKTX stock with ownership which is approximately 5.8325%.
