Yesterday, we reported that shares of Viking Therapeutics Inc (NASDAQ:VKTX) had mysteriously gained nearly 50% on no news from the company. We questioned whether or not it was simply an act of pumping by a select few investors, or perhaps it signaled forthcoming news from the company.
Today, we may have an answer. Although, no one can be certain, it appears as though Viking Therapeutics Inc.’s (NASDAQ:VKTX) huge increase yesterday could have simply been a massive pump. The stock has fallen significantly today, as there still has been no news released from the company.
It should be interesting to see if this stock falls back to its original price prior to yesterday’s jump or if perhaps some news is released from the company at some point today.
The stock is down 11.28% or $0.49, hitting $3.86 per share. Approximately 1,355 shares traded hands. VKTX shares have declined 48.70% since May 26, 2015 and are currently downtrending. It has underperformed the S&P500 by 46.44%.
Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The company has a market cap of $18.72 million. The Firm is focused on the development of therapies for metabolic and endocrine disorders. It currently has negative earnings. The Company’s lead clinical program is VK5211, which is an orally available drug candidate under a Phase II clinical trial.