Ventyx Biosciences (NASDAQ:VTYX – Get Rating) had its target price boosted by Canaccord Genuity Group from $35.00 to $54.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 32.19% from the stock's previous close.
Other equities research analysts also recently issued reports about the company. Oppenheimer lifted their price objective on Ventyx Biosciences from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, January 27th. The Goldman Sachs Group initiated coverage on Ventyx Biosciences in a report on Monday, December 19th. They set a "buy" rating and a $50.00 price objective on the stock. Evercore ISI lifted their price objective on Ventyx Biosciences from $50.00 to $65.00 in a report on Thursday, January 26th. Finally, Morgan Stanley initiated coverage on Ventyx Biosciences in a report on Thursday, November 17th. They set an "overweight" rating and a $45.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $52.78.
Get Ventyx Biosciences alerts:Ventyx Biosciences Trading Down 2.7 %
Shares of NASDAQ:VTYX opened at $40.85 on Tuesday. Ventyx Biosciences has a one year low of $9.50 and a one year high of $44.12. The business's 50-day simple moving average is $32.44 and its 200 day simple moving average is $28.16.
Ventyx Biosciences (NASDAQ:VTYX – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.14). On average, analysts expect that Ventyx Biosciences will post -1.95 earnings per share for the current year.Insider Transactions at Ventyx Biosciences
In other news, insider John Nuss sold 50,000 shares of Ventyx Biosciences stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $28.23, for a total value of $1,411,500.00. Following the completion of the transaction, the insider now owns 258,696 shares in the company, valued at approximately $7,302,988.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider John Nuss sold 50,000 shares of the company's stock in a transaction on Monday, December 5th. The stock was sold at an average price of $28.23, for a total transaction of $1,411,500.00. Following the completion of the transaction, the insider now directly owns 258,696 shares in the company, valued at approximately $7,302,988.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Somu Subramaniam sold 3,935 shares of the company's stock in a transaction on Monday, November 7th. The stock was sold at an average price of $29.08, for a total value of $114,429.80. Following the transaction, the director now owns 16,888,593 shares of the company's stock, valued at $491,120,284.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,206,646 shares of company stock worth $36,781,043. 49.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Birchview Capital LP grew its stake in Ventyx Biosciences by 36.4% during the 3rd quarter. Birchview Capital LP now owns 45,000 shares of the company's stock worth $1,571,000 after buying an additional 12,000 shares during the last quarter. Nantahala Capital Management LLC bought a new position in shares of Ventyx Biosciences in the third quarter worth $4,072,000. TD Asset Management Inc. bought a new position in shares of Ventyx Biosciences in the third quarter worth $570,000. The Manufacturers Life Insurance Company bought a new position in shares of Ventyx Biosciences in the third quarter worth $980,000. Finally, SG Americas Securities LLC bought a new position in shares of Ventyx Biosciences in the third quarter worth $132,000. 95.57% of the stock is currently owned by institutional investors.
About Ventyx Biosciences
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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.
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