Ventyx Biosciences, Inc. (NASDAQ:VTYX) Receives Average Rating of “Moderate Buy” from Brokerages

Ventyx Biosciences, Inc. (NASDAQ:VTYX) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.75.

A number of research analysts recently issued reports on VTYX shares. Oppenheimer upgraded shares of Ventyx Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Tuesday, March 12th. Canaccord Genuity Group reduced their price target on shares of Ventyx Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Wells Fargo & Company raised shares of Ventyx Biosciences from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $7.00 to $16.00 in a report on Tuesday, March 12th. Finally, Lifesci Capital raised shares of Ventyx Biosciences from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 28th.

Ventyx Biosciences Trading Up 1.5 %

NASDAQ:VTYX opened at $4.67 on Thursday. Ventyx Biosciences has a 1 year low of $1.87 and a 1 year high of $40.58. The firm’s fifty day simple moving average is $5.75 and its 200 day simple moving average is $6.92. The firm has a market capitalization of $329.24 million, a PE ratio of -1.42 and a beta of 0.27.

Ventyx Biosciences (NASDAQ:VTYX) last posted its earnings results on Tuesday, February 27th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.08. During the same quarter last year, the business earned ($0.62) earnings per share. As a group, analysts anticipate that Ventyx Biosciences will post -2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Ventyx Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ventyx Biosciences by 139.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,944 shares of the company’s stock worth $2,221,000 after acquiring an additional 37,240 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Ventyx Biosciences by 962.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 987,970 shares of the company’s stock worth $34,312,000 after acquiring an additional 895,000 shares during the period. Hudson Bay Capital Management LP lifted its holdings in shares of Ventyx Biosciences by 160.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 248,515 shares of the company’s stock worth $8,631,000 after acquiring an additional 153,000 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ventyx Biosciences by 42.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 363,385 shares of the company’s stock worth $12,620,000 after acquiring an additional 107,997 shares during the period. Finally, FMR LLC lifted its holdings in shares of Ventyx Biosciences by 1.5% during the 3rd quarter. FMR LLC now owns 8,677,529 shares of the company’s stock worth $301,371,000 after acquiring an additional 124,298 shares during the period. 97.88% of the stock is owned by institutional investors.

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.