How Is The Market Feeling About Viking Therapeutics?
Portfolio Pulse from Benzinga Insights
Viking Therapeutics (NYSE:VKTX) has seen a 17.0% increase in short percent of float since its last report, with 11.15 million shares sold short, representing 13.63% of all shares available for trading. This indicates a bearish market sentiment towards VKTX, although an increase in short interest can sometimes be bullish. VKTX's short interest is significantly higher than its peer group average of 5.40%.
May 14, 2024 | 5:00 pm
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Viking Therapeutics has experienced a significant increase in short interest, suggesting a bearish market sentiment but also potential for a bullish reversal if shorts are squeezed.
The increase in short interest for VKTX indicates a bearish sentiment among traders, which could lead to downward pressure on the stock price in the short term. However, high short interest can also lead to a short squeeze if the stock price starts to rise, potentially causing a rapid increase in price. The comparison with peers highlights VKTX's unique position, adding to the complexity of predicting its short-term movement.
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