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Before Buying Viking Therapeutics Inc. (NASDAQ: VKTX) Stock, Read This First

Viking Therapeutics Inc. (NASDAQ:VKTX) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -4.04% to the previous day’s close as strong demand from buyers drove the stock to $21.86.

Actively observing the price movement in the last trading, the stock closed the session at $22.78, falling within a range of $21.51 and $23.06. Referring to stock’s 52-week performance, its high was $25.72, and the low was $2.02. On the whole, VKTX has fluctuated by 9.96% over the past month.

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With the market capitalization of Viking Therapeutics Inc. currently standing at about $2.20 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 25, 2023 – Jul 31, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.19, which is expected to increase to -$0.13 for fiscal year -$0.83 and then to about -$0.93 by fiscal year 2024. Data indicates that the EPS growth is expected to be 7.80% in 2024, while the next year’s EPS growth is forecast to be -12.00%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VKTX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VKTX currently trading nearly -2.27% and 19.28% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.66, while the 7-day volatility ratio is showing 8.31% which for the 30-day chart, stands at 7.30%. Furthermore, Viking Therapeutics Inc. (VKTX)’s beta value is 0.66, and its average true range (ATR) is 1.61.

A comparison of Viking Therapeutics Inc. (VKTX) with its peers suggests the former has fared considerably weaker in the market. VKTX showed an intraday change of -4.04% in last session, and over the past year, it grew by 871.56%%. In comparison, Societal CDMO Inc. (SCTL) has moved lower at -4.02% on the day and was up 3.27% over the past 12 months. On the other hand, the price of Ultragenyx Pharmaceutical Inc. (RARE) has fallen -2.80% on the day. The stock, however, is off 4.26% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.

Data on historical trading for Viking Therapeutics Inc. (NASDAQ:VKTX) indicates that the trading volumes over the past 10 days have averaged 3.86 million and over the past 3 months, they’ve averaged 4.88 million. According to company’s latest data on outstanding shares, there are 78.35 million shares outstanding.

Nearly 6.24% of Viking Therapeutics Inc.’s shares belong to company insiders and institutional investors own 35.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.59 million shares as on Apr 27, 2023, resulting in a short ratio of 1.44. According to the data, the short interest in Viking Therapeutics Inc. (VKTX) stood at 11.61% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 11.26 million. The stock has risen by 132.55% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VKTX stock heading into the next quarter.

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