Concurrent Investment Advisors LLC Buys New Holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX)

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

A number of other large investors have also recently bought and sold shares of the company. FMR LLC boosted its position in Viking Therapeutics by 0.6% in the fourth quarter. FMR LLC now owns 16,715,438 shares of the biotechnology company's stock valued at $672,629,000 after buying an additional 96,008 shares during the last quarter. Geode Capital Management LLC boosted its position in Viking Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,880,713 shares of the biotechnology company's stock valued at $75,704,000 after buying an additional 17,046 shares during the last quarter. Braidwell LP boosted its position in Viking Therapeutics by 27.9% in the 4th quarter. Braidwell LP now owns 1,479,666 shares of the biotechnology company's stock worth $59,542,000 after purchasing an additional 322,689 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Viking Therapeutics by 228.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,479,596 shares of the biotechnology company's stock worth $59,540,000 after purchasing an additional 1,029,125 shares in the last quarter. Finally, 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 worth $54,615,000 after purchasing an additional 1,108,972 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company's stock.

Viking Therapeutics Stock Down 0.6%

Shares of VKTX opened at $31.11 on Friday. Viking Therapeutics, Inc. has a 52-week low of $18.92 and a 52-week high of $81.73. The company has a market capitalization of $3.49 billion, a PE ratio of -27.05 and a beta of 0.62. The stock has a fifty day simple moving average of $27.61 and a two-hundred day simple moving average of $29.29.

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

Wall Street Analyst Weigh In

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

Insider Activity at Viking Therapeutics

In related news, CFO Greg Zante sold 4,266 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $27.76, for a total transaction of $118,424.16. Following the completion of the transaction, the chief financial officer directly owned 168,660 shares in the company, valued at $4,682,001.60. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Lian sold 26,889 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $27.80, for a total value of $747,514.20. Following the transaction, the chief executive officer owned 2,388,014 shares of the company's stock, valued at $66,386,789.20. This trade represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,421 shares of company stock worth $984,405 in the last three months. 4.10% of the stock is owned by company insiders.

About Viking Therapeutics

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.

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