HC Wainwright Reiterates “Neutral” Rating for Ventyx Biosciences (NASDAQ:VTYX)

Ventyx Biosciences (NASDAQ:VTYX)‘s stock had its “neutral” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $6.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 133.46% from the company’s previous close.

VTYX has been the topic of a number of other research reports. Wells Fargo & Company reduced their target price on Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group reduced their price objective on shares of Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ventyx Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $8.29.

Ventyx Biosciences Trading Up 6.6 %

Ventyx Biosciences stock opened at $2.57 on Tuesday. The stock has a market cap of $181.62 million, a P/E ratio of -0.92 and a beta of 0.36. The company has a 50-day moving average price of $2.17 and a 200 day moving average price of $3.12. Ventyx Biosciences has a 12-month low of $1.79 and a 12-month high of $19.04.

Ventyx Biosciences (NASDAQ:VTYX) last announced its quarterly earnings results 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. As a group, analysts forecast that Ventyx Biosciences will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Ventyx Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of VTYX. Norden Group LLC acquired a new stake in Ventyx Biosciences during the 1st quarter worth approximately $59,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Ventyx Biosciences by 66.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,385 shares of the company’s stock valued at $63,000 after acquiring an additional 4,553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Ventyx Biosciences in the first quarter valued at $72,000. SG Americas Securities LLC purchased a new position in Ventyx Biosciences in the second quarter valued at $32,000. Finally, The Manufacturers Life Insurance Company grew its stake 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 in the last quarter. 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.