The stock of Viking Therapeutics, Inc. (NASDAQ:VKTX) is now priced at $7.99 and the shares are 0.19 points up or 2.44% higher compared to its previous closing price of $7.8. The stock had 1.204 million contracts set over the past session. VKTX shares’ daily volume is compared to its average trading volume at 1.338 million shares. However, it has a float of 63.36 million and although its performance was 3.36% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the VKTX share price recently placing at $7.76 to $8.06. However, some brokerage firms have priced the stock below the average, including one that has called $9.
The shorts are running away from the Viking Therapeutics, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the VKTX shares have declined. Short interest in the stock represents just 16.71% of its float, but the volume has dropped by -1861428. The volume of shorted shares dropped to 8.725 million from 10.587 million shares over the last two weeks. The average intraday trading volume has been 895491 shares, which means that days to cover moved to roughly 9.743746.
In the last trading session, Viking Therapeutics, Inc. (NASDAQ:VKTX) raised by $0.26 over the week and gained $1.4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $8.87. The stock recorded its established 52-week high on 12/26/19.
Since 03/17/20, the stock has traded to a low of $3.26 at 145.09%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.11. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Viking Therapeutics, Inc.’s two-week RSI is 60.6. This suggests that the stock is neutral at the moment and that VKTX shares’ price movement remains stable. The stochastic readings are equally revealing at 82.83% meaning the VKTX share price is currently in oversold territory.
The technical chart shows that the VKTX stock will likely settle at between $8.11 and $8.24 per share. However, if the stock dips below $7.81, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.64.
Currently, the stock is trading in the green of MACD, with a reading of 0.16. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned VKTX a rating of Outperform in their intiating review released on June 05. Chardan Capital Markets analysts see the stock as a Buy with a target price of $15 in a flash note released to investors on May 05 initiating covering the stock. BTIG Research analysts see the stock as Buy when the analysts initiated the share price coverage on May 01, placing it at $9.
The average rating for the VKTX equity is 1.62 and is currently gathering a bullish momentum. Of 14 analysts tracking Viking Therapeutics, Inc. polled by Reuters, 0 rated VKTX as a hold. The remaining 14 analysts were split evenly. However, the split wasn’t equal as a majority (14) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.