VKTX - Is Viking Therapeutics Stock Running Out of Steam?
2024-07-11 05:42:00 ET
Viking Therapeutics (NASDAQ: VKTX) has been one of the hottest healthcare stocks to own this year, thanks to hype and excitement relating to its promising weight loss treatment, VK2735. The potential that investors see in the drug is a key reason the stock has ballooned to a market cap of nearly $6 billion despite the company generating no revenue and having no approved products yet.
But the stock's momentum does appear to be slowing down of late. In just the past three months, for instance, shares are down more than 30%. Is this a concern for investors, and could more of a drop in the share price be coming, or is this latest pullback just a great buying opportunity?
One way to gauge interest in a stock is by looking at its trading volume . While there was a big jump in trading around March and April when the company released its quarterly results and provided updates about its clinical trials and the progress of VK2735, that surge in trading has proved to be short-lived.
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Is Viking Therapeutics Stock Running Out of Steam?