9,102 Shares in Viking Therapeutics, Inc. (NASDAQ:VKTX) Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC purchased a new stake in shares of Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,102 shares of the biotechnology company's stock, valued at approximately $220,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Viking Therapeutics in the fourth quarter valued at approximately $51,464,000. Massachusetts Financial Services Co. MA boosted its position in Viking Therapeutics by 446.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,357,241 shares of the biotechnology company's stock valued at $54,615,000 after buying an additional 1,108,972 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Viking Therapeutics by 228.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock valued at $59,540,000 after buying an additional 1,029,125 shares during the period. Raymond James Financial Inc. bought a new stake in Viking Therapeutics during the 4th quarter worth about $24,888,000. Finally, Man Group plc lifted its holdings in Viking Therapeutics by 3,373.4% in the fourth quarter. Man Group plc now owns 448,732 shares of the biotechnology company's stock valued at $18,057,000 after buying an additional 435,813 shares during the period. Institutional investors own 76.03% of the company's stock.

Viking Therapeutics Stock Up 3.0%

Shares of NASDAQ:VKTX traded up $0.93 during midday trading on Wednesday, hitting $31.63. The stock had a trading volume of 2,629,080 shares, compared to its average volume of 4,095,856. The company has a market cap of $3.55 billion, a P/E ratio of -27.50 and a beta of 0.62. Viking Therapeutics, Inc. has a 12 month low of $18.92 and a 12 month high of $81.73. The business's 50-day simple moving average is $27.73 and its 200-day simple moving average is $29.14.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). During the same quarter in the prior year, the company earned ($0.26) EPS. The firm's revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, COO Marianna Mancini sold 4,266 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.77, for a total value of $118,466.82. Following the transaction, the chief operating officer directly owned 377,535 shares of the company's stock, valued at $10,484,146.95. This represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Lian sold 26,889 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $27.80, for a total value of $747,514.20. Following the sale, the chief executive officer owned 2,388,014 shares of the company's stock, valued at approximately $66,386,789.20. This represents a 1.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,421 shares of company stock valued at $984,405 in the last quarter. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VKTX has been the topic of several recent analyst reports. Truist Financial reissued a "buy" rating and set a $75.00 price objective (down previously from $95.00) on shares of Viking Therapeutics in a research note on Monday, April 28th. Cantor Fitzgerald upgraded Viking Therapeutics to a "strong-buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group started coverage on Viking Therapeutics in a research report on Tuesday, April 8th. They set a "neutral" rating and a $30.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $102.00 target price on shares of Viking Therapeutics in a research note on Wednesday, June 25th. Finally, Morgan Stanley cut their price target on shares of Viking Therapeutics from $105.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.15.

Viking Therapeutics Profile

Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.