Ventyx Biosciences, Inc. (NASDAQ:VTYX) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) have earned a consensus recommendation of “Reduce” from the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

VTYX has been the subject of several research analyst reports. Clear Str downgraded Ventyx Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 7th. UBS Group restated a “neutral” rating and issued a $14.00 price target (down previously from $20.00) on shares of Ventyx Biosciences in a research note on Thursday, January 8th. Oppenheimer cut shares of Ventyx Biosciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 8th. HC Wainwright lowered shares of Ventyx Biosciences from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Thursday, January 8th. Finally, Canaccord Genuity Group downgraded Ventyx Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $16.00 to $14.00 in a research note on Thursday, January 8th.

Insider Buying and Selling at Ventyx Biosciences

In other news, insider John Nuss sold 12,675 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 transaction of $97,851.00. Following the completion of the sale, the insider owned 489,481 shares in the company, valued at approximately $3,778,793.32. The trade was a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raju Mohan sold 47,345 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $7.72, for a total transaction of $365,503.40. Following the completion of the sale, the chief executive officer owned 2,372,863 shares in the company, valued at approximately $18,318,502.36. This trade represents a 1.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.49% of the company’s stock.

Institutional Investors Weigh In On Ventyx Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC grew its stake in Ventyx Biosciences by 65.2% in the 4th quarter. Affinity Asset Advisors LLC now owns 6,484,558 shares of the company’s stock valued at $58,556,000 after buying an additional 2,560,143 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in Ventyx Biosciences in the 4th quarter valued at $924,000. Bank of Nova Scotia purchased a new stake in Ventyx Biosciences in the 4th quarter valued at about $176,000. Rafferty Asset Management LLC purchased a new stake in shares of Ventyx Biosciences during the fourth quarter worth $123,000. Finally, Birchview Capital LP boosted its stake in shares of Ventyx Biosciences by 2.0% in the 4th quarter. Birchview Capital LP now owns 100,827 shares of the company’s stock valued at $910,000 after purchasing an additional 2,000 shares in the last quarter. 97.88% of the stock is currently owned by institutional investors and hedge funds.

Ventyx Biosciences Stock Up 0.3%

Shares of NASDAQ:VTYX opened at $13.97 on Friday. The business has a 50 day moving average price of $11.63 and a 200 day moving average price of $7.27. Ventyx Biosciences has a twelve month low of $0.78 and a twelve month high of $25.00. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -9.31 and a beta of 1.25.

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.