Viking Therapeutics Inc (NASDAQ:VKTX) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 22,218,913 shares, an increase of 12.2% from the October 15th total of 19,809,519 shares. Based on an average trading volume of 2,924,213 shares, the short-interest ratio is presently 7.6 days. Approximately 40.3% of the shares of the stock are short sold.

A number of research firms have recently weighed in on VKTX. Raymond James set a $43.00 price objective on shares of Viking Therapeutics and gave the company a “buy” rating in a research report on Wednesday, September 19th. SunTrust Banks boosted their price objective on shares of Viking Therapeutics to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 19th. Roth Capital boosted their price objective on shares of Viking Therapeutics from $13.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 19th. Maxim Group reissued a “buy” rating and issued a $28.00 price objective (up previously from $14.00) on shares of Viking Therapeutics in a research report on Tuesday, September 18th. Finally, HC Wainwright set a $28.00 price objective on shares of Viking Therapeutics and gave the company a “buy” rating in a research report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.00.

In other Viking Therapeutics news, major shareholder Ligand Pharmaceuticals Inc sold 262,881 shares of Viking Therapeutics stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $19.15, for a total transaction of $5,034,171.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. grew its holdings in Viking Therapeutics by 21.3% in the third quarter. American International Group Inc. now owns 34,403 shares of the biotechnology company’s stock valued at $599,000 after purchasing an additional 6,036 shares during the period. Wells Fargo & Company MN grew its holdings in Viking Therapeutics by 12.0% in the third quarter. Wells Fargo & Company MN now owns 65,810 shares of the biotechnology company’s stock valued at $1,146,000 after purchasing an additional 7,037 shares during the period. First Mercantile Trust Co. purchased a new stake in Viking Therapeutics in the third quarter valued at approximately $131,000. Janney Montgomery Scott LLC purchased a new stake in Viking Therapeutics in the second quarter valued at approximately $114,000. Finally, Strs Ohio purchased a new stake in Viking Therapeutics in the second quarter valued at approximately $120,000. Hedge funds and other institutional investors own 53.56% of the company’s stock.

NASDAQ:VKTX opened at $12.33 on Friday. The company has a market capitalization of $851.64 million, a PE ratio of -15.61 and a beta of 2.92. Viking Therapeutics has a 1-year low of $2.24 and a 1-year high of $24.00.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Friday, November 9th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Analysts forecast that Viking Therapeutics will post -0.44 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://theolympiareport.com/2018/11/11/viking-therapeutics-inc-vktx-sees-significant-increase-in-short-interest.html.

About Viking Therapeutics

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. Its lead clinical program, VK5211, is an orally available, non-steroidal selective androgen receptor modulator in Phase II development for the treatment of patients recovering from non-elective hip fracture surgery; in Phase I clinical trials for improving lean body mass; and in pre-clinical trial for improving bone mineral density, bone mineral content, bone strength, and other measures.

Read More: What are defining characteristics of a correction?

Receive News & Ratings for Viking Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viking Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.