Ventyx Biosciences (NASDAQ:VTYX) Reaches New 1-Year High on Analyst Upgrade

Ventyx Biosciences, Inc. (NASDAQ:VTYX)’s stock price hit a new 52-week high during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $16.00. Canaccord Genuity Group currently has a buy rating on the stock. Ventyx Biosciences traded as high as $9.50 and last traded at $8.86, with a volume of 426955 shares. The stock had previously closed at $8.77.

A number of other analysts also recently weighed in on VTYX. Wall Street Zen upgraded Ventyx Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Wells Fargo & Company raised their price objective on shares of Ventyx Biosciences from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer increased their price target on shares of Ventyx Biosciences from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ventyx Biosciences in a research note on Wednesday, October 8th. Finally, 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 research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.50.

Institutional Investors Weigh In On Ventyx Biosciences

Large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new position in Ventyx Biosciences in the 2nd quarter worth approximately $34,000. Pallas Capital Advisors LLC bought a new position in Ventyx Biosciences during the 2nd quarter worth about $38,000. Engineers Gate Manager LP acquired a new stake in Ventyx Biosciences in the 2nd quarter valued at approximately $42,000. Persistent Asset Partners Ltd bought a new stake in shares of Ventyx Biosciences in the third quarter worth $51,000. Finally, Jump Financial LLC acquired a new position in shares of Ventyx Biosciences during the 2nd quarter worth about $53,000. 97.88% of the stock is owned by institutional investors.

Ventyx Biosciences Stock Performance

The company has a market cap of $627.96 million, a price-to-earnings ratio of -5.89 and a beta of 1.21. The firm has a fifty day moving average price of $4.21 and a 200 day moving average price of $2.93.

Ventyx Biosciences (NASDAQ:VTYX) last announced 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, analysts expect that Ventyx Biosciences, Inc. will post -2.09 EPS for the current fiscal year.

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.