Concurrent Investment Advisors LLC Grows Position in Viking Therapeutics, Inc. $VKTX

Key Points

• Concurrent Investment Advisors LLC boosted its stake in Viking Therapeutics by 1,624% in Q4, acquiring an additional 264,750 shares to hold 281,052 shares (about 0.25% of the company) valued at roughly $9.89 million.
• Insider Neil William Aubuchon purchased 4,475 shares at $33.50 on March 10 (a $149,912.50 buy); company insiders now own about 5.30% of the stock while institutional investors hold ~76.03%.
• Viking reported a Q4 EPS loss of ($1.38) versus consensus (−$0.89), and analysts show mixed views but a consensus rating of "Moderate Buy" with a $94.22 average target.

Concurrent Investment Advisors LLC increased its holdings in Viking Therapeutics, Inc. (NASDAQ:VKTX - Free Report) by 1,624.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 281,052 shares of the biotechnology company's stock after acquiring an additional 264,750 shares during the quarter. Concurrent Investment Advisors LLC owned approximately 0.25% of Viking Therapeutics worth $9,887,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VKTX. Golden State Wealth Management LLC purchased a new stake in Viking Therapeutics in the third quarter worth about $30,000. Raleigh Capital Management Inc. lifted its stake in Viking Therapeutics by 58.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 945 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 347 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Viking Therapeutics in the third quarter worth about $38,000. Avion Wealth lifted its position in shares of Viking Therapeutics by 1,157.0% during the third quarter. Avion Wealth now owns 1,521 shares of the biotechnology company's stock valued at $39,000 after buying an additional 1,400 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Viking Therapeutics during the fourth quarter valued at about $39,000. 76.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Neil William Aubuchon acquired 4,475 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $33.50 per share, for a total transaction of $149,912.50. Following the completion of the acquisition, the insider directly owned 4,475 shares in the company, valued at $149,912.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is currently owned by company insiders.

Viking Therapeutics Stock Performance

VKTX stock opened at $32.75 on Friday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -10.30 and a beta of 0.83. The firm has a 50-day simple moving average of $33.49 and a two-hundred day simple moving average of $34.06. Viking Therapeutics, Inc. has a one year low of $22.96 and a one year high of $43.15.

Viking Therapeutics (NASDAQ:VKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.49). During the same quarter in the previous year, the business posted ($0.32) EPS. As a group, equities analysts predict that Viking Therapeutics, Inc. will post -3.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on VKTX shares. Wolfe Research started coverage on shares of Viking Therapeutics in a research report on Thursday, March 26th. They set a "peer perform" rating for the company. Morgan Stanley reissued an "overweight" rating and set a $99.00 price target on shares of Viking Therapeutics in a research report on Thursday, February 12th. Zacks Research raised shares of Viking Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. HC Wainwright reissued a "buy" rating and set a $102.00 price target on shares of Viking Therapeutics in a research report on Monday, March 23rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Viking Therapeutics in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Viking Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.22.

About Viking Therapeutics

Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company's pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.

The company's lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.

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