Ventyx Biosciences, Inc. (NASDAQ:VTYX) Given Average Recommendation of “Reduce” by Analysts

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) have been assigned an average recommendation of “Reduce” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.00.

Several analysts have issued reports on the stock. HC Wainwright downgraded shares of Ventyx Biosciences from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research note on Thursday, January 8th. Oppenheimer cut Ventyx Biosciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 8th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 price target on shares of Ventyx Biosciences in a report on Thursday, January 8th. Canaccord Genuity Group lowered Ventyx Biosciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $16.00 to $14.00 in a research note on Thursday, January 8th. Finally, Piper Sandler cut Ventyx Biosciences from an “overweight” rating to a “hold” rating and set a $14.00 price objective for the company. in a report on Thursday, January 8th.

Ventyx Biosciences Stock Performance

Ventyx Biosciences stock opened at $14.00 on Monday. Ventyx Biosciences has a 12-month low of $0.78 and a 12-month high of $25.00. The firm has a 50-day moving average price of $13.98 and a 200-day moving average price of $10.12. The firm has a market capitalization of $1.00 billion, a PE ratio of -9.33 and a beta of 1.26.

Institutional Trading of Ventyx Biosciences

Large investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC grew its holdings in shares of Ventyx Biosciences by 65.2% in the fourth quarter. Affinity Asset Advisors LLC now owns 6,484,558 shares of the company’s stock worth $58,556,000 after purchasing an additional 2,560,143 shares during the last quarter. Marshall Wace LLP bought a new stake in Ventyx Biosciences during the 2nd quarter valued at about $5,129,000. Braidwell LP bought a new stake in Ventyx Biosciences during the 4th quarter valued at about $17,340,000. MPM Bioimpact LLC purchased a new stake in Ventyx Biosciences in the 4th quarter valued at about $14,801,000. Finally, Baker BROS. Advisors LP boosted its position in Ventyx Biosciences by 129.6% in the 4th quarter. Baker BROS. Advisors LP now owns 2,349,280 shares of the company’s stock valued at $21,214,000 after buying an additional 1,326,150 shares during the period. 97.88% of the stock is owned by hedge funds and other institutional investors.

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.