Ventyx Biosciences (NASDAQ:VTYX) Downgraded to Neutral at HC Wainwright

HC Wainwright downgraded shares of Ventyx Biosciences (NASDAQ:VTYX) from a buy rating to a neutral rating in a research report report published on Tuesday, MarketBeat reports.

VTYX has been the topic of a number of other reports. Wells Fargo & Company lowered Ventyx Biosciences from an overweight rating to an equal weight rating and decreased their price objective for the company from $77.00 to $8.00 in a report on Tuesday. Stifel Nicolaus lowered Ventyx Biosciences from a buy rating to a hold rating and set a $6.00 price objective on the stock. in a report on Tuesday. Oppenheimer decreased their price objective on Ventyx Biosciences from $57.00 to $56.00 in a report on Tuesday, October 10th. Credit Suisse Group cut their target price on Ventyx Biosciences from $63.00 to $62.00 and set an outperform rating for the company in a research report on Friday, August 11th. Finally, Evercore ISI cut their target price on Ventyx Biosciences from $65.00 to $47.00 in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ventyx Biosciences presently has a consensus rating of Hold and an average target price of $37.89.

Ventyx Biosciences Price Performance

Shares of NASDAQ VTYX opened at $2.73 on Tuesday. The stock’s fifty day moving average price is $26.20 and its two-hundred day moving average price is $31.84. Ventyx Biosciences has a one year low of $2.37 and a one year high of $47.25. The firm has a market cap of $160.28 million, a price-to-earnings ratio of -0.98 and a beta of -0.15.

Ventyx Biosciences (NASDAQ:VTYX) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.20). During the same quarter in the previous year, the business earned ($0.39) earnings per share. On average, equities analysts anticipate that Ventyx Biosciences will post -3.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider William J. Sandborn sold 11,900 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $33.64, for a total transaction of $400,316.00. Following the completion of the sale, the insider now directly owns 48,389 shares in the company, valued at approximately $1,627,805.96. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider William J. Sandborn sold 11,900 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $33.64, for a total transaction of $400,316.00. Following the completion of the sale, the insider now directly owns 48,389 shares in the company, valued at approximately $1,627,805.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher W. Krueger sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $29.98, for a total value of $449,700.00. Following the sale, the insider now owns 276,548 shares of the company’s stock, valued at $8,290,909.04. The disclosure for this sale can be found here. Insiders sold a total of 162,717 shares of company stock worth $5,341,854 in the last ninety days. 24.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Ventyx Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of VTYX. FMR LLC increased its holdings in Ventyx Biosciences by 348.8% in the 1st quarter. FMR LLC now owns 7,604,341 shares of the company’s stock worth $254,745,000 after purchasing an additional 5,909,854 shares in the last quarter. BlackRock Inc. increased its holdings in Ventyx Biosciences by 57.5% in the 2nd quarter. BlackRock Inc. now owns 3,226,572 shares of the company’s stock worth $105,832,000 after purchasing an additional 1,177,971 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ventyx Biosciences by 163.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,805,574 shares of the company’s stock worth $59,205,000 after purchasing an additional 1,120,232 shares in the last quarter. Holocene Advisors LP increased its holdings in Ventyx Biosciences by 48.3% in the 2nd quarter. Holocene Advisors LP now owns 1,537,084 shares of the company’s stock worth $50,416,000 after purchasing an additional 500,571 shares in the last quarter. Finally, State Street Corp increased its holdings in Ventyx Biosciences by 73.4% in the 2nd quarter. State Street Corp now owns 1,040,098 shares of the company’s stock worth $34,115,000 after purchasing an additional 440,271 shares in the last quarter.

About Ventyx Biosciences

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