Wells Fargo & Company Reiterates Equal Weight Rating for Ventyx Biosciences (NASDAQ:VTYX)

Ventyx Biosciences (NASDAQ:VTYX)‘s stock had its “equal weight” rating reissued by equities researchers at Wells Fargo & Company in a research note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.63% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group reiterated a “hold” rating and issued a $14.00 price objective (down from $16.00) on shares of Ventyx Biosciences in a report on Thursday. Oppenheimer lowered shares of Ventyx Biosciences from an “outperform” rating to a “market perform” rating in a research note on Thursday. HC Wainwright downgraded shares of Ventyx Biosciences from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ventyx Biosciences in a research report on Wednesday, October 8th. Finally, Lifesci Capital reaffirmed a “market perform” rating and issued a $14.00 price objective on shares of Ventyx Biosciences in a research report on Thursday. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $14.00.

Ventyx Biosciences Stock Up 0.3%

VTYX opened at $13.78 on Thursday. The stock has a market cap of $982.98 million, a P/E ratio of -9.18 and a beta of 1.23. Ventyx Biosciences has a 12 month low of $0.78 and a 12 month high of $25.00. The company has a fifty day simple moving average of $9.05 and a 200 day simple moving average of $5.14.

Ventyx Biosciences (NASDAQ:VTYX) last posted its earnings results on Thursday, November 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.13. On average, equities research analysts expect that Ventyx Biosciences will post -2.09 earnings per share for the current fiscal year.

Insider Transactions at Ventyx Biosciences

In other news, insider John Nuss sold 12,675 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $7.72, for a total transaction of $97,851.00. Following the transaction, the insider directly owned 489,481 shares of the company’s stock, valued at approximately $3,778,793.32. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raju Mohan sold 47,345 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $7.72, for a total value of $365,503.40. Following the completion of the sale, the chief executive officer owned 2,372,863 shares of the company’s stock, valued at approximately $18,318,502.36. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.49% of the company’s stock.

Institutional Trading of Ventyx Biosciences

Several large investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Ventyx Biosciences during the second quarter worth about $71,000. Affinity Asset Advisors LLC bought a new stake in Ventyx Biosciences during the 2nd quarter worth approximately $9,707,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Ventyx Biosciences by 8.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 945,206 shares of the company’s stock valued at $2,023,000 after acquiring an additional 73,601 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of Ventyx Biosciences during the second quarter valued at $38,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Ventyx Biosciences during the second quarter valued at $148,000. Institutional investors and hedge funds own 97.88% of the company’s stock.

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.