Ventyx Biosciences (NASDAQ:VTYX) Given New $16.00 Price Target at Canaccord Genuity Group

Ventyx Biosciences (NASDAQ:VTYX) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $14.00 to $16.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 82.44% from the stock’s previous close.

VTYX has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ventyx Biosciences in a research report on Wednesday, October 8th. Oppenheimer raised their target price on Ventyx Biosciences from $9.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. HC Wainwright raised Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday. Wall Street Zen upgraded Ventyx Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company upped their price target on Ventyx Biosciences from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Ventyx Biosciences currently has an average rating of “Moderate Buy” and an average price target of $15.50.

Ventyx Biosciences Price Performance

VTYX traded down $0.49 during trading on Friday, reaching $8.77. 2,638,338 shares of the company’s stock were exchanged, compared to its average volume of 2,134,669. Ventyx Biosciences has a 1 year low of $0.78 and a 1 year high of $9.50. The company’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $2.85. The stock has a market capitalization of $625.39 million, a P/E ratio of -5.22 and a beta of 1.23.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Ventyx Biosciences by 7.6% in the second quarter. CWM LLC now owns 57,145 shares of the company’s stock valued at $122,000 after purchasing an additional 4,057 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Ventyx Biosciences by 21.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,657 shares of the company’s stock worth $62,000 after purchasing an additional 5,174 shares during the period. Hudson Bay Capital Management LP acquired a new position in Ventyx Biosciences in the 2nd quarter valued at about $34,000. Pallas Capital Advisors LLC purchased a new stake in shares of Ventyx Biosciences in the 2nd quarter valued at approximately $38,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Ventyx Biosciences during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 97.88% of the company’s stock.

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.