Brokerages Set Ventyx Biosciences, Inc. (NASDAQ:VTYX) Price Target at $21.75

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.75.

VTYX has been the topic of several analyst reports. Lifesci Capital upgraded Ventyx Biosciences from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 28th. Oppenheimer upgraded Ventyx Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Tuesday, March 12th. Wells Fargo & Company upgraded shares of Ventyx Biosciences from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $7.00 to $16.00 in a research note on Tuesday, March 12th. Finally, Canaccord Genuity Group reduced their target price on shares of Ventyx Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th.

Ventyx Biosciences Stock Down 3.6 %

NASDAQ:VTYX opened at $4.44 on Monday. The company has a market capitalization of $313.02 million, a P/E ratio of -1.35 and a beta of 0.48. Ventyx Biosciences has a 52 week low of $1.87 and a 52 week high of $40.58. The stock’s fifty day moving average is $5.96 and its two-hundred day moving average is $4.72.

Ventyx Biosciences (NASDAQ:VTYX) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.08. During the same period last year, the firm earned ($0.62) earnings per share. Sell-side analysts anticipate that Ventyx Biosciences will post -2.55 earnings per share for the current fiscal year.

Institutional Trading of Ventyx Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ventyx Biosciences by 139.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,944 shares of the company’s stock worth $2,221,000 after purchasing an additional 37,240 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Ventyx Biosciences by 962.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 987,970 shares of the company’s stock valued at $34,312,000 after buying an additional 895,000 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in shares of Ventyx Biosciences by 160.2% during the third quarter. Hudson Bay Capital Management LP now owns 248,515 shares of the company’s stock worth $8,631,000 after buying an additional 153,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ventyx Biosciences by 42.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 363,385 shares of the company’s stock worth $12,620,000 after buying an additional 107,997 shares during the last quarter. Finally, FMR LLC increased its position in Ventyx Biosciences by 1.5% in the 3rd quarter. FMR LLC now owns 8,677,529 shares of the company’s stock valued at $301,371,000 after acquiring an additional 124,298 shares during the period. 97.88% of the stock is owned by hedge funds and other institutional investors.

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.