Ventyx Biosciences, Inc. (NASDAQ:VTYX) Receives $8.29 Consensus Target Price from Analysts

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.29.

A number of brokerages have recently issued reports on VTYX. Canaccord Genuity Group cut their price objective on shares of Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company cut their price objective on shares of Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. HC Wainwright reaffirmed a “neutral” rating and issued a $6.00 price objective on shares of Ventyx Biosciences in a research report on Tuesday, July 30th. Finally, Oppenheimer cut their price objective on shares of Ventyx Biosciences from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th.

Ventyx Biosciences Stock Performance

NASDAQ:VTYX opened at $1.85 on Wednesday. Ventyx Biosciences has a one year low of $1.84 and a one year high of $38.20. The firm has a market cap of $130.42 million, a P/E ratio of -0.57 and a beta of 0.39. The firm has a 50-day simple moving average of $2.46 and a 200-day simple moving average of $4.17.

Ventyx Biosciences (NASDAQ:VTYX) last issued its quarterly earnings data 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, research analysts predict that Ventyx Biosciences will post -2.14 EPS for the current fiscal year.

Institutional Trading of Ventyx Biosciences

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in Ventyx Biosciences by 41.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,349 shares of the company’s stock worth $56,000 after purchasing an additional 7,096 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Ventyx Biosciences in the 2nd quarter valued at $88,000. Deerfield Management Company L.P. Series C boosted its holdings in shares of Ventyx Biosciences by 64.6% in 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 acquiring an additional 2,287,570 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Ventyx Biosciences in the 2nd quarter valued at $131,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ventyx Biosciences in the 2nd quarter valued at $58,000. 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.