Why Viking Therapeutics Stock Wobbled Today
Shares of clinical-stage biotech Viking Therapeutics (NASDAQ: VKTX) fell by as much as 4.8% on exceptionally low volume during the first hour of trading Tuesday morning. Since this mid-single-digit dip, the biotech's shares have battled back over the course of today's trading session.
As of 2:33 p.m. ET Tuesday afternoon, Viking's stock was only down by 0.86% on a fraction of its normal daily volume. The biotech's shares appeared to drop in response to a broad-based sell-off across the growth equity landscape during the opening hours of Tuesday's session.
Viking's stock has been among the biggest winners within the growth equity space this year, thanks to an upcoming mid-stage data readout in nonalcoholic steatohepatitis (NASH), along with a surprisingly strong early-stage readout for its weight-loss candidate, VK2735.
Source Fool.com
