Shares of Viking Therapeutics Inc (NASDAQ:VKTX) are mysteriously trading up huge today on volume of over 30 times the 3-month average. The company, which focuses on developing therapeutics for patients who suffer from metabolic and endocrine disorders has not released any news to back up their soaring stock price. This has investors intrigued.
Even though volume is relatively high compared to the average for Viking Therapeutics Inc (NASDAQ:VKTX), fewer than 400,000 shares have traded hands. This has led some to believe that its simply a matter someone pumping the company, while others believe that perhaps some news is coming soon.
“VKTX has had such low volume, it probably took approximately 6 months for the pumper to acquire enough shares to make this scheme work,” speculated Twitter users, Randy Schreckhise.
“VKTX almost 400,000 shares traded,” wrote StockTwit user, Kyleao242. “We are getting some news I’m thinking. This sure as sh$t isn’t a pump.”
Whatever the cause for this huge jump is, surely there are plenty of happy investors today. The stock is up 48.17% or $1.05, hitting $3.23 per share. About 380,464 shares traded hands or up 2243.34% from the average. vktx has declined 75.94% since May 22, 2015 and is currently downtrending. It has underperformed the S&P500 by 73.67%.
Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The company has a market cap of $20.05 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.