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

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $8.29.

VTYX has been the subject of a number of research reports. Canaccord Genuity Group decreased their price objective on Ventyx Biosciences from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, August 12th. Oppenheimer decreased their price objective on Ventyx Biosciences from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, June 6th. HC Wainwright restated a “neutral” rating and issued a $6.00 price target on shares of Ventyx Biosciences in a research note on Monday, September 23rd. Finally, Wells Fargo & Company decreased their price target on Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, August 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VTYX. Farallon Capital Management LLC bought a new position in shares of Ventyx Biosciences during the 1st quarter worth approximately $17,435,000. Deerfield Management Company L.P. Series C boosted its stake in shares of Ventyx Biosciences by 64.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 5,829,570 shares of the company’s stock worth $13,466,000 after acquiring an additional 2,287,570 shares during the period. Redmile Group LLC boosted its stake in shares of Ventyx Biosciences by 944.4% during the 1st quarter. Redmile Group LLC now owns 2,164,126 shares of the company’s stock worth $11,903,000 after acquiring an additional 1,956,923 shares during the period. Opaleye Management Inc. bought a new position in shares of Ventyx Biosciences during the 4th quarter worth approximately $2,816,000. Finally, First Light Asset Management LLC bought a new position in shares of Ventyx Biosciences during the 1st quarter worth approximately $3,437,000. 97.88% of the stock is currently owned by institutional investors.

Ventyx Biosciences Stock Performance

NASDAQ:VTYX opened at $2.11 on Thursday. The company has a market cap of $149.11 million, a PE ratio of -0.65 and a beta of 0.37. Ventyx Biosciences has a 52-week low of $1.79 and a 52-week high of $31.01. The stock has a 50-day simple moving average of $2.21 and a 200 day simple moving average of $3.44.

Ventyx Biosciences (NASDAQ:VTYX) last posted 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 earnings per share for the current fiscal year.

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.