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

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) have earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.75.

A number of brokerages have recently issued reports on VTYX. Wells Fargo & Company raised Ventyx Biosciences from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $16.00 in a research note on Tuesday, March 12th. Canaccord Genuity Group lowered their price target on shares of Ventyx Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Lifesci Capital upgraded shares of Ventyx Biosciences from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 28th. HC Wainwright reissued a “neutral” rating and set a $6.00 price objective on shares of Ventyx Biosciences in a report on Thursday, June 13th. Finally, Oppenheimer dropped their target price on shares of Ventyx Biosciences from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, June 6th.

Ventyx Biosciences Trading Down 0.8 %

NASDAQ:VTYX opened at $2.49 on Tuesday. Ventyx Biosciences has a 12-month low of $1.87 and a 12-month high of $40.58. The stock’s 50 day simple moving average is $4.11 and its 200-day simple moving average is $4.14. The firm has a market cap of $175.54 million, a P/E ratio of -0.77 and a beta of 0.58.

Ventyx Biosciences (NASDAQ:VTYX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.05. During the same quarter in the previous year, the company posted ($0.68) EPS. Research analysts forecast that Ventyx Biosciences will post -2.31 EPS for the current fiscal year.

Institutional Trading of Ventyx Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Opaleye Management Inc. lifted its holdings in Ventyx Biosciences by 12.7% in the 1st quarter. Opaleye Management Inc. now owns 1,285,000 shares of the company’s stock valued at $7,068,000 after purchasing an additional 145,000 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of Ventyx Biosciences during the first quarter valued at approximately $17,435,000. Ikarian Capital LLC boosted its position in Ventyx Biosciences by 8,483.8% during the first quarter. Ikarian Capital LLC now owns 507,647 shares of the company’s stock worth $2,792,000 after acquiring an additional 501,733 shares during the last quarter. Redmile Group LLC raised its holdings in Ventyx Biosciences by 944.4% in the 1st quarter. Redmile Group LLC now owns 2,164,126 shares of the company’s stock valued at $11,903,000 after acquiring an additional 1,956,923 shares during the last quarter. Finally, First Light Asset Management LLC purchased a new position in shares of Ventyx Biosciences during the 1st quarter worth $3,437,000. 97.88% of the stock is currently owned by hedge funds and other 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.