Ventyx Biosciences (NASDAQ:VTYX) Stock Price Up 12.3% – Should You Buy?

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) were up 12.3% on Friday . The company traded as high as $8.77 and last traded at $8.98. Approximately 1,574,664 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 2,113,447 shares. The stock had previously closed at $8.00.

Analysts Set New Price Targets

A number of research firms have weighed in on VTYX. Canaccord Genuity Group boosted their target price on shares of Ventyx Biosciences from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Wells Fargo & Company upped their target price on shares of Ventyx Biosciences from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Ventyx Biosciences in a research note on Wednesday, October 8th. HC Wainwright upgraded Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, November 5th. Finally, Oppenheimer lifted their target price on Ventyx Biosciences from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Ventyx Biosciences Trading Up 6.7%

The firm has a 50 day moving average of $6.83 and a two-hundred day moving average of $3.98. The stock has a market capitalization of $609.41 million, a PE ratio of -5.65 and a beta of 1.22.

Ventyx Biosciences (NASDAQ:VTYX) last issued its earnings results on Thursday, November 6th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.13. Equities research analysts forecast that Ventyx Biosciences, Inc. will post -2.09 EPS for the current year.

Hedge Funds Weigh In On Ventyx Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in Ventyx Biosciences by 7.6% during the second quarter. CWM LLC now owns 57,145 shares of the company’s stock valued at $122,000 after acquiring an additional 4,057 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Ventyx Biosciences by 21.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,657 shares of the company’s stock worth $62,000 after acquiring an additional 5,174 shares during the period. Prelude Capital Management LLC raised its position in shares of Ventyx Biosciences by 35.0% during the third quarter. Prelude Capital Management LLC now owns 21,200 shares of the company’s stock valued at $66,000 after buying an additional 5,500 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in Ventyx Biosciences in the second quarter valued at about $34,000. Finally, Persistent Asset Partners Ltd bought a new stake in Ventyx Biosciences during the third quarter worth about $51,000. Institutional investors and hedge funds own 97.88% of the company’s stock.

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.