Ventyx Biosciences (NASDAQ:VTYX) Trading Up 2.8% – Should You Buy?

Ventyx Biosciences, Inc. (NASDAQ:VTYX) shares traded up 2.8% during trading on Wednesday . The company traded as high as $9.10 and last traded at $8.9950. 58,958 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 2,060,245 shares. The stock had previously closed at $8.75.

Analyst Ratings Changes

A number of research analysts have issued reports on VTYX shares. Wells Fargo & Company boosted their price target on Ventyx Biosciences from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Oppenheimer lifted their target price on shares of Ventyx Biosciences from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ventyx Biosciences in a report on Wednesday, October 8th. HC Wainwright raised shares of Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, November 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Ventyx Biosciences from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ventyx Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Ventyx Biosciences Stock Up 3.5%

The company has a market capitalization of $646.52 million, a price-to-earnings ratio of -6.04 and a beta of 1.22. The stock’s 50-day simple moving average is $8.64 and its two-hundred day simple moving average is $4.85.

Ventyx Biosciences (NASDAQ:VTYX) last released its earnings results on Thursday, November 6th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.13. On average, sell-side analysts forecast that Ventyx Biosciences, Inc. will post -2.09 EPS for the current year.

Insider Buying and Selling

In other Ventyx Biosciences news, insider John Nuss sold 12,675 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $7.72, for a total value of $97,851.00. Following the transaction, the insider owned 489,481 shares in the company, valued at approximately $3,778,793.32. This trade represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Raju Mohan sold 47,345 shares of Ventyx Biosciences stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $7.72, for a total transaction of $365,503.40. Following the sale, the chief executive officer directly owned 2,372,863 shares in the company, valued at approximately $18,318,502.36. This trade represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.18% of the company’s stock.

Institutional Investors Weigh In On Ventyx Biosciences

A number of hedge funds have recently modified their holdings of VTYX. Ashton Thomas Private Wealth LLC purchased a new position in Ventyx Biosciences during the second quarter worth approximately $71,000. Nuveen LLC acquired a new stake in shares of Ventyx Biosciences in the 1st quarter worth $194,000. Ieq Capital LLC purchased a new position in shares of Ventyx Biosciences during the 1st quarter worth $223,000. Affinity Asset Advisors LLC acquired a new position in shares of Ventyx Biosciences during the 2nd quarter valued at about $9,707,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ventyx Biosciences by 8.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 945,206 shares of the company’s stock valued at $2,023,000 after purchasing an additional 73,601 shares during the period. 97.88% of the stock is currently owned by institutional investors and hedge funds.

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. It is also developing VTX002, a sphingosine 1 phosphate receptor modulator that is in Phase II clinical trials for the treatment of ulcerative colitis; and VTX2735, a peripheral-targeted NOD-like receptor protein 3 inflammasome inhibitor to treat patients with cryopyrin-associated periodic syndrome.