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

Ventyx Biosciences, Inc. (NASDAQ:VTYX)’s stock price reached 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 changing hands. The stock had previously closed at $8.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Ventyx Biosciences by 7.6% in the second quarter. CWM LLC now owns 57,145 shares of the company’s stock worth $122,000 after buying an additional 4,057 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ventyx Biosciences by 21.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,657 shares of the company’s stock valued at $62,000 after acquiring an additional 5,174 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Ventyx Biosciences in the 2nd quarter worth approximately $34,000. Persistent Asset Partners Ltd bought a new stake in shares of Ventyx Biosciences during the third quarter worth approximately $51,000. Finally, Pallas Capital Advisors LLC bought a new position in Ventyx Biosciences during the second quarter worth about $38,000. Institutional investors own 97.88% of the company’s stock.

Ventyx Biosciences Price Performance

The company has a market capitalization of $627.96 million, a P/E ratio of -5.89 and a beta of 1.21. The business’s 50-day moving average price is $4.21 and its two-hundred day moving average price is $2.93.

Ventyx Biosciences (NASDAQ:VTYX) last released its quarterly earnings results 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. Research analysts expect that Ventyx Biosciences, Inc. will post -2.09 earnings per share 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.