Ventyx Biosciences (NASDAQ:VTYX) Sees Strong Trading Volume – Here’s What Happened

Ventyx Biosciences, Inc. (NASDAQ:VTYX) shares saw unusually-high trading volume on Friday . Approximately 16,181,427 shares changed hands during mid-day trading, an increase of 257% from the previous session’s volume of 4,538,231 shares.The stock last traded at $13.9850 and had previously closed at $13.97.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VTYX. Canaccord Genuity Group cut shares of Ventyx Biosciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $16.00 to $14.00 in a report on Thursday, January 8th. UBS Group reissued a “neutral” rating and set a $14.00 price objective (down from $20.00) on shares of Ventyx Biosciences in a research note on Thursday, January 8th. Wells Fargo & Company restated an “equal weight” rating and issued a $14.00 target price on shares of Ventyx Biosciences in a report on Thursday, January 8th. Oppenheimer downgraded Ventyx Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday, January 8th. Finally, Clear Str lowered Ventyx Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 7th. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $14.00.

Ventyx Biosciences Stock Performance

The company has a market cap of $1.00 billion, a PE ratio of -9.31 and a beta of 1.25. The company has a 50 day simple moving average of $12.75 and a two-hundred day simple moving average of $8.06.

Insider Buying and Selling

In other Ventyx Biosciences news, CEO Raju Mohan sold 47,345 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $7.72, for a total value of $365,503.40. Following the transaction, the chief executive officer owned 2,372,863 shares in the company, valued at $18,318,502.36. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Nuss sold 12,675 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $7.72, for a total value of $97,851.00. Following the completion of the transaction, the insider directly owned 489,481 shares in the company, valued at approximately $3,778,793.32. The trade was a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ventyx Biosciences

Large investors have recently made changes to their positions in the company. Arrowpoint Investment Partners Singapore Pte. Ltd. increased its holdings in Ventyx Biosciences by 5.9% in the fourth quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 28,453 shares of the company’s stock worth $257,000 after buying an additional 1,595 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of Ventyx Biosciences by 1.2% during the 4th quarter. Prospera Financial Services Inc now owns 151,570 shares of the company’s stock worth $1,369,000 after purchasing an additional 1,770 shares during the last quarter. Birchview Capital LP increased its stake in shares of Ventyx Biosciences by 2.0% during the 4th quarter. Birchview Capital LP now owns 100,827 shares of the company’s stock worth $910,000 after purchasing an additional 2,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ventyx Biosciences during the 4th quarter valued at $31,000. Finally, CWM LLC lifted its stake in shares of Ventyx Biosciences by 7.6% in the 2nd quarter. CWM LLC now owns 57,145 shares of the company’s stock valued at $122,000 after purchasing an additional 4,057 shares during the last quarter. Institutional investors own 97.88% of the company’s stock.

About Ventyx Biosciences

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. It is also developing VTX002, a sphingosine 1 phosphate receptor modulator that is in Phase II clinical trials for the treatment of ulcerative colitis; and VTX2735, a peripheral-targeted NOD-like receptor protein 3 inflammasome inhibitor to treat patients with cryopyrin-associated periodic syndrome.