Ventyx Biosciences’ (VTYX) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Ventyx Biosciences (NASDAQ:VTYX) in a report issued on Friday morning,Benzinga reports. Oppenheimer currently has a $9.00 target price on the stock, down from their previous target price of $10.00.

Several other brokerages have also commented on VTYX. Canaccord Genuity Group cut 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. Wells Fargo & Company reduced their price target on shares of Ventyx Biosciences from $16.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, HC Wainwright reissued a “neutral” rating and issued a $6.00 price objective on shares of Ventyx Biosciences in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ventyx Biosciences has an average rating of “Moderate Buy” and an average target price of $10.00.

Ventyx Biosciences Stock Down 2.3 %

Shares of Ventyx Biosciences stock opened at $2.15 on Friday. Ventyx Biosciences has a twelve month low of $1.79 and a twelve month high of $11.48. The company’s 50 day moving average is $2.24 and its 200 day moving average is $2.82. The company has a market cap of $151.94 million, a price-to-earnings ratio of -0.91 and a beta of 0.37.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norden Group LLC bought a new stake in Ventyx Biosciences during the 1st quarter worth approximately $59,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Ventyx Biosciences during the 1st quarter valued at $72,000. First Light Asset Management LLC purchased a new stake in Ventyx Biosciences in the 1st quarter worth $3,437,000. Redmile Group LLC raised its holdings in Ventyx Biosciences by 944.4% during the first 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 period. Finally, Ikarian Capital LLC lifted its position in shares of Ventyx Biosciences by 8,483.8% in the first quarter. Ikarian Capital LLC now owns 507,647 shares of the company’s stock valued at $2,792,000 after acquiring an additional 501,733 shares in the last quarter. 97.88% of the stock is 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.