Ventyx Biosciences, Inc. (NASDAQ:VTYX) Given Average Rating of “Moderate Buy” by Analysts

Ventyx Biosciences, Inc. (NASDAQ:VTYX) has received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.29.

A number of research firms have recently commented on VTYX. Wells Fargo & Company lowered their target price on Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Canaccord Genuity Group lowered their price objective on Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Ventyx Biosciences in a research report on Tuesday, October 15th.

Hedge Funds Weigh In On Ventyx Biosciences

Several institutional investors and hedge funds have recently modified their holdings of VTYX. Deerfield Management Company L.P. Series C grew its position in Ventyx Biosciences by 64.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 5,829,570 shares of the company’s stock valued at $13,466,000 after purchasing an additional 2,287,570 shares during the last quarter. Farallon Capital Management LLC purchased a new position in Ventyx Biosciences in the first quarter worth about $17,435,000. Redmile Group LLC lifted its stake in shares of Ventyx Biosciences by 944.4% in the first quarter. Redmile Group LLC now owns 2,164,126 shares of the company’s stock worth $11,903,000 after buying an additional 1,956,923 shares in the last quarter. Opaleye Management Inc. grew its holdings in shares of Ventyx Biosciences by 12.7% during the first quarter. Opaleye Management Inc. now owns 1,285,000 shares of the company’s stock valued at $7,068,000 after buying an additional 145,000 shares during the last quarter. Finally, First Light Asset Management LLC bought a new stake in shares of Ventyx Biosciences during the first quarter valued at approximately $3,437,000. 97.88% of the stock is currently owned by institutional investors.

Ventyx Biosciences Trading Down 0.5 %

Shares of NASDAQ VTYX opened at $2.15 on Monday. The firm has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.89. Ventyx Biosciences has a 12 month low of $1.79 and a 12 month high of $15.81. The firm has a market capitalization of $151.94 million, a PE ratio of -0.77 and a beta of 0.37.

Ventyx Biosciences (NASDAQ:VTYX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. On average, sell-side analysts predict that Ventyx Biosciences will post -2.14 earnings per share for the current year.

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.