Ventyx Biosciences (NASDAQ:VTYX) Shares Down 10.4% – Here’s Why

Ventyx Biosciences, Inc. (NASDAQ:VTYX) was down 10.4% during mid-day trading on Friday . The stock traded as low as $8.16 and last traded at $8.2930. Approximately 1,241,942 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 2,127,696 shares. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

Several research firms have weighed in on VTYX. Oppenheimer upped their price objective on shares of 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 price objective for the company in a report on Wednesday. Wall Street Zen raised Ventyx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ventyx Biosciences in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Ventyx Biosciences Stock Down 8.6%

The stock has a market capitalization of $603.64 million, a P/E ratio of -5.04 and a beta of 1.23. The company has a 50-day moving average price of $4.08 and a two-hundred day moving average price of $2.85.

Ventyx Biosciences (NASDAQ:VTYX) last posted its earnings results on Thursday, November 6th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.13. On average, sell-side analysts expect that Ventyx Biosciences, Inc. will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Ventyx Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VTYX. Wealth Enhancement Advisory Services LLC purchased a new position in Ventyx Biosciences in the 1st quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Ventyx Biosciences during the second quarter valued at about $71,000. Nuveen LLC purchased a new position in Ventyx Biosciences in the 1st quarter worth approximately $194,000. Ieq Capital LLC bought a new stake in Ventyx Biosciences during the 1st quarter valued at $223,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Ventyx Biosciences in the second quarter worth about $38,000. 97.88% of the stock is currently owned by hedge funds and other institutional investors.

Ventyx Biosciences Company Profile

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.