Concentric Capital Strategies LP Sells 29,597 Shares of Viking Therapeutics, Inc. (NASDAQ:VKTX)

Concentric Capital Strategies LP trimmed its position in Viking Therapeutics, Inc. (NASDAQ:VKTX) by 67.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,288 shares of the biotechnology company’s stock after selling 29,597 shares during the quarter. Concentric Capital Strategies LP’s holdings in Viking Therapeutics were worth $905,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in Viking Therapeutics by 0.5% during the 3rd quarter. FMR LLC now owns 16,619,430 shares of the biotechnology company’s stock valued at $1,052,176,000 after buying an additional 79,149 shares in the last quarter. Perpetual Ltd boosted its position in shares of Viking Therapeutics by 55.4% during the 3rd quarter. Perpetual Ltd now owns 1,269,152 shares of the biotechnology company’s stock valued at $80,350,000 after acquiring an additional 452,344 shares during the last quarter. Braidwell LP grew its holdings in shares of Viking Therapeutics by 4.5% in the third quarter. Braidwell LP now owns 1,156,977 shares of the biotechnology company’s stock valued at $73,248,000 after purchasing an additional 50,072 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Viking Therapeutics by 10,775.6% in the third quarter. International Assets Investment Management LLC now owns 1,004,033 shares of the biotechnology company’s stock valued at $63,565,000 after purchasing an additional 994,801 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Viking Therapeutics by 18.3% in the third quarter. Westfield Capital Management Co. LP now owns 930,370 shares of the biotechnology company’s stock worth $58,902,000 after purchasing an additional 143,675 shares during the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Viking Therapeutics

In other news, Director J Matthew Singleton sold 10,300 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $69.50, for a total transaction of $715,850.00. Following the transaction, the director now owns 9,500 shares in the company, valued at approximately $660,250. This trade represents a 52.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawson Macartney sold 2,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $68.67, for a total transaction of $137,340.00. Following the completion of the sale, the director now directly owns 47,965 shares of the company’s stock, valued at approximately $3,293,756.55. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,117 shares of company stock worth $27,140,009 in the last 90 days. 4.70% of the stock is owned by corporate insiders.

Viking Therapeutics Stock Down 2.7 %

VKTX opened at $51.51 on Tuesday. The business has a fifty day moving average of $62.42 and a 200 day moving average of $59.48. The stock has a market cap of $5.74 billion, a P/E ratio of -55.39 and a beta of 0.89. Viking Therapeutics, Inc. has a 52-week low of $14.02 and a 52-week high of $99.41.

Viking Therapeutics (NASDAQ:VKTX) last released its earnings results on Wednesday, October 23rd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same period in the prior year, the company earned ($0.23) EPS. Equities analysts anticipate that Viking Therapeutics, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. B. Riley assumed coverage on shares of Viking Therapeutics in a research report on Friday, November 22nd. They set a “buy” rating and a $109.00 price objective for the company. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on Viking Therapeutics in a research note on Wednesday, September 11th. They set an “overweight” rating and a $80.00 price objective on the stock. Piper Sandler started coverage on Viking Therapeutics in a research note on Monday. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $105.00 target price on shares of Viking Therapeutics in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Viking Therapeutics currently has an average rating of “Buy” and a consensus target price of $106.75.

Viking Therapeutics Company 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.