Concurrent Investment Advisors LLC Sells 41,506 Shares of Viking Therapeutics, Inc. $VKTX

Concurrent Investment Advisors LLC cut its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 11.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 306,280 shares of the biotechnology company’s stock after selling 41,506 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Viking Therapeutics were worth $11,948,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VKTX. E Fund Management Co. Ltd. increased its position in shares of Viking Therapeutics by 2.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,580 shares of the biotechnology company’s stock valued at $466,000 after purchasing an additional 406 shares during the last quarter. Prospera Financial Services Inc grew its holdings in Viking Therapeutics by 5.1% during the fourth quarter. Prospera Financial Services Inc now owns 9,365 shares of the biotechnology company’s stock valued at $329,000 after purchasing an additional 455 shares during the period. Assetmark Inc. increased its position in Viking Therapeutics by 13.6% in the first quarter. Assetmark Inc. now owns 3,870 shares of the biotechnology company’s stock worth $126,000 after buying an additional 462 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Viking Therapeutics by 29.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,109 shares of the biotechnology company’s stock worth $56,000 after buying an additional 481 shares during the period. Finally, Banque Cantonale Vaudoise raised its stake in shares of Viking Therapeutics by 16.7% in the third quarter. Banque Cantonale Vaudoise now owns 3,752 shares of the biotechnology company’s stock worth $98,000 after buying an additional 536 shares during the period. Institutional investors own 76.03% of the company’s stock.

Viking Therapeutics Stock Up 2.6%

Viking Therapeutics stock opened at $34.87 on Friday. The company’s 50-day moving average price is $35.41 and its 200-day moving average price is $33.46. The company has a market cap of $4.07 billion, a PE ratio of -7.48 and a beta of 0.69. Viking Therapeutics, Inc. has a twelve month low of $22.96 and a twelve month high of $43.15.

Viking Therapeutics (NASDAQ:VKTX) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.11. During the same period in the previous year, the business posted ($0.58) earnings per share. Viking Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Viking Therapeutics, Inc. will post -4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Viking Therapeutics in a research note on Friday, July 17th. JPMorgan Chase & Co. lowered their target price on shares of Viking Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Lake Street Capital assumed coverage on Viking Therapeutics in a research note on Thursday, May 28th. They issued a “buy” rating and a $89.00 price target for the company. Canaccord Genuity Group raised their price target on Viking Therapeutics from $107.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Truist Financial started coverage on Viking Therapeutics in a research note on Wednesday, May 27th. They issued a “buy” rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.62.

Insider Buying and Selling at Viking Therapeutics

In other Viking Therapeutics news, CFO Greg Zante sold 21,217 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.47, for a total transaction of $710,132.99. Following the completion of the sale, the chief financial officer owned 212,204 shares in the company, valued at $7,102,467.88. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Marianna Mancini sold 18,217 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.47, for a total transaction of $609,722.99. Following the completion of the transaction, the chief operating officer directly owned 422,760 shares of the company’s stock, valued at $14,149,777.20. The trade was a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 187,951 shares of company stock valued at $6,268,442. Company insiders own 5.30% of the company’s stock.

Viking Therapeutics Company Profile

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.