Ventyx Biosciences (NASDAQ:VTYX) Trading 13.5% Higher – Still a Buy?

Shares of Ventyx Biosciences, Inc. (NASDAQ:VTYX) traded up 13.5% on Friday . The stock traded as high as $8.80 and last traded at $8.7850. 798,264 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,092,488 shares. The stock had previously closed at $7.74.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VTYX shares. Oppenheimer raised their target price on Ventyx Biosciences from $9.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. HC Wainwright upgraded Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ventyx Biosciences in a research report on Wednesday, October 8th. Wells Fargo & Company upped their target price on Ventyx Biosciences from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Canaccord Genuity Group raised their price target on Ventyx Biosciences from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Ventyx Biosciences Stock Performance

The stock’s 50-day moving average price is $7.79 and its two-hundred day moving average price is $4.44. The stock has a market capitalization of $624.76 million, a PE ratio of -5.84 and a beta of 1.22.

Ventyx Biosciences (NASDAQ:VTYX) last issued its quarterly 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 predict that Ventyx Biosciences, Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. purchased a new position in Ventyx Biosciences during the third quarter valued at $61,000. Woodline Partners LP bought a new position in shares of Ventyx Biosciences during the third quarter valued at $143,000. XTX Topco Ltd raised its position in shares of Ventyx Biosciences by 25.2% in the 3rd quarter. XTX Topco Ltd now owns 202,382 shares of the company’s stock worth $629,000 after purchasing an additional 40,771 shares during the last quarter. Vestal Point Capital LP boosted its stake in Ventyx Biosciences by 2.5% in the 3rd quarter. Vestal Point Capital LP now owns 2,050,000 shares of the company’s stock worth $6,376,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Ventyx Biosciences during the 3rd quarter valued at about $456,000. Institutional investors 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. 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.