Deep-pocketed investors have adopted a bearish approach towards Viking Therapeutics VKTX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in VKTX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Viking Therapeutics. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 15% leaning bullish and 76% bearish. Among these notable options, 4 are puts, totaling $799,745, and 9 are calls, amounting to $315,579.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $100.0 for Viking Therapeutics over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Viking Therapeutics stands at 762.1, with a total volume reaching 2,538.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Viking Therapeutics, situated within the strike price corridor from $50.0 to $100.0, throughout the last 30 days.
Viking Therapeutics Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VKTX | PUT | TRADE | BEARISH | 07/19/24 | $21.5 | $18.7 | $20.75 | $80.00 | $628.7K | 638 | 303 |
| VKTX | PUT | SWEEP | BEARISH | 05/31/24 | $11.3 | $8.1 | $11.3 | $74.00 | $113.7K | 107 | 100 |
| VKTX | CALL | TRADE | BEARISH | 05/31/24 | $0.85 | $0.6 | $0.6 | $68.00 | $56.7K | 525 | 1.1K |
| VKTX | CALL | SWEEP | BEARISH | 07/19/24 | $8.3 | $7.6 | $8.3 | $70.00 | $41.2K | 1.9K | 136 |
| VKTX | CALL | SWEEP | BEARISH | 06/28/24 | $8.0 | $5.1 | $5.1 | $65.00 | $40.8K | 154 | 80 |
About Viking Therapeutics
Viking Therapeutics Inc is a healthcare service provider. The company specializes in the area of biopharmaceutical development focused on metabolic and endocrine disorders. The company's clinical program pipeline consists of VK2809, VK5211, VK0214 products. VK2809 and VK0214 are orally available, tissue and receptor-subtype selective agonists of the thyroid hormone receptor beta. VK5211 is an orally available, non-steroidal selective androgen receptor modulator.
Following our analysis of the options activities associated with Viking Therapeutics, we pivot to a closer look at the company's own performance.
Viking Therapeutics's Current Market Status
- Currently trading with a volume of 1,496,068, the VKTX's price is up by 0.83%, now at $63.27.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 57 days.
Professional Analyst Ratings for Viking Therapeutics
2 market experts have recently issued ratings for this stock, with a consensus target price of $118.0.
- An analyst from Truist Securities downgraded its action to Buy with a price target of $120.
- In a positive move, an analyst from Raymond James has upgraded their rating to Strong Buy and adjusted the price target to $116.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Viking Therapeutics, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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