Ventyx Biosciences (NASDAQ:VTYX) Stock Rating Reaffirmed by HC Wainwright

Ventyx Biosciences (NASDAQ:VTYX)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $6.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 143.90% from the stock’s current price.

Several other brokerages have also recently weighed in on VTYX. Wells Fargo & Company lowered their price objective on shares of Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Oppenheimer lowered their price objective on shares of Ventyx Biosciences from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. Finally, Canaccord Genuity Group decreased their target price on shares of Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.29.

Ventyx Biosciences Price Performance

Shares of NASDAQ:VTYX opened at $2.46 on Monday. The firm’s 50 day moving average price is $2.26 and its 200-day moving average price is $3.65. Ventyx Biosciences has a twelve month low of $1.79 and a twelve month high of $36.19. The stock has a market capitalization of $173.43 million, a PE ratio of -0.76 and a beta of 0.37.

Ventyx Biosciences (NASDAQ:VTYX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. Analysts expect that Ventyx Biosciences will post -2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ventyx Biosciences

A number of institutional investors have recently added to or reduced their stakes in VTYX. SG Americas Securities LLC purchased a new stake in Ventyx Biosciences during the 2nd quarter valued at approximately $32,000. The Manufacturers Life Insurance Company grew its holdings in Ventyx Biosciences by 41.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,349 shares of the company’s stock valued at $56,000 after buying an additional 7,096 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ventyx Biosciences during the 2nd quarter valued at approximately $58,000. Norden Group LLC purchased a new position in shares of Ventyx Biosciences in the first quarter valued at $59,000. Finally, American Century Companies Inc. purchased a new position in shares of Ventyx Biosciences in the second quarter valued at $60,000. 97.88% of the stock is owned by hedge funds and other institutional investors.

Ventyx Biosciences Company Profile

Ventyx Biosciences, Inc, a clinical-stage biopharmaceutical company, develops small molecule product candidates to address a range of inflammatory diseases. The company's lead clinical product candidate is VTX958, a selective allosteric tyrosine kinase type 2 inhibitor for psoriasis, psoriatic arthritis, and Crohn's disease.