Ventyx Biosciences, Inc. (NASDAQ:VTYX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ventyx Biosciences, Inc. (NASDAQ:VTYX) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.29.

A number of research firms recently weighed in on VTYX. Wells Fargo & Company reduced their price objective on Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group reduced their price objective on Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $6.00 price objective on shares of Ventyx Biosciences in a research report on Monday, September 23rd.

Ventyx Biosciences Stock Performance

Shares of NASDAQ:VTYX opened at $2.12 on Thursday. Ventyx Biosciences has a 52-week low of $1.79 and a 52-week high of $30.20. The firm has a market capitalization of $149.46 million, a P/E ratio of -0.65 and a beta of 0.36. The stock has a 50 day moving average price of $2.16 and a 200-day moving average price of $3.29.

Ventyx Biosciences (NASDAQ:VTYX) last announced its earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.12. On average, equities analysts forecast that Ventyx Biosciences will post -2.14 EPS for the current fiscal year.

Institutional Trading of Ventyx Biosciences

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Ventyx Biosciences during the 2nd quarter valued at $32,000. The Manufacturers Life Insurance Company boosted its stake 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 purchasing an additional 7,096 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ventyx Biosciences during the 2nd quarter valued at $58,000. Norden Group LLC purchased a new stake in Ventyx Biosciences during the 1st quarter valued at $59,000. Finally, American Century Companies Inc. purchased a new position in shares of Ventyx Biosciences in the 2nd quarter worth $60,000. 97.88% of the stock is currently 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.