Ventyx Biosciences (NASDAQ:VTYX) Trading Up 12.2% – What’s Next?

Ventyx Biosciences, Inc. (NASDAQ:VTYX) shares shot up 12.2% during trading on Wednesday . The company traded as high as $9.11 and last traded at $9.0760. 2,868,011 shares traded hands during trading, an increase of 35% from the average session volume of 2,123,778 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

A number of brokerages have commented on VTYX. Weiss Ratings reissued a “sell (d-)” rating on shares of Ventyx Biosciences in a report on Wednesday, October 8th. Oppenheimer boosted their price objective on Ventyx Biosciences from $9.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. HC Wainwright raised Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday. Finally, Wall Street Zen raised Ventyx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

Ventyx Biosciences Price Performance

The firm has a fifty day simple moving average of $3.81 and a two-hundred day simple moving average of $2.76. The firm has a market capitalization of $654.19 million, a P/E ratio of -5.43 and a beta of 1.21.

Ventyx Biosciences (NASDAQ:VTYX) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.07. On average, research analysts anticipate that Ventyx Biosciences, Inc. will post -2.09 EPS for the current year.

Institutional Investors Weigh In On Ventyx Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its position in shares of Ventyx Biosciences by 7.6% in the second quarter. CWM LLC now owns 57,145 shares of the company’s stock worth $122,000 after buying an additional 4,057 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ventyx Biosciences by 21.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,657 shares of the company’s stock valued at $62,000 after buying an additional 5,174 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Ventyx Biosciences in the second quarter worth about $34,000. Pallas Capital Advisors LLC bought a new stake in shares of Ventyx Biosciences in the second quarter worth about $38,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Ventyx Biosciences in the second quarter worth about $42,000. Hedge funds and other 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.