vTv Therapeutics Inc. (VTVT) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of vTv Therapeutics Inc. (NASDAQ:VTVT) from a hold rating to a buy rating in a report released on Thursday morning. The firm currently has $5.25 price objective on the biotechnology company’s stock.
According to Zacks, “vTv Therapeutics Inc. is a biopharmaceutical company which is engaged in the discovery and development of orally administered small molecule drug candidates to fill unmet medical needs. Its drug candidate for the treatment of Alzheimers disease includes azeliragon TTP488, which is in Phase III clinical trials; type II diabetes drug candidates include Glucokinase Activator TTP399 and GLP-1r Agonist TTP273 which completed Phase I clinical trials; products for the prevention of muscle weakness and treatment of inflammatory disorders include HPP593, HPP737 and HPP971 which is in Phase1 clinical trials. The Company’s drug discovery platform consists of TTP Translational Technology. vTv Therapeutics Inc. is headquartered in High Point, North Carolina. “
Several other equities analysts have also recently issued reports on VTVT. HC Wainwright set a $13.00 price target on vTv Therapeutics and gave the company a buy rating in a research report on Friday, August 4th. Canaccord Genuity reiterated a buy rating and set a $15.00 price target on shares of vTv Therapeutics in a research report on Friday, August 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. vTv Therapeutics has an average rating of Buy and a consensus price target of $14.25.
Shares of vTv Therapeutics (NASDAQ:VTVT) opened at 4.84 on Thursday. The firm has a 50-day moving average price of $4.54 and a 200 day moving average price of $5.21. The stock’s market cap is $46.91 million. vTv Therapeutics has a 52-week low of $3.57 and a 52-week high of $7.50.
vTv Therapeutics (NASDAQ:VTVT) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.02. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.19 million. Analysts expect that vTv Therapeutics will post ($1.06) earnings per share for the current year.
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In related news, major shareholder Ronald O. Perelman acquired 10,000 shares of vTv Therapeutics stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $4.97 per share, with a total value of $49,700.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Ronald O. Perelman acquired 85,000 shares of vTv Therapeutics stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $4.13 per share, with a total value of $351,050.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 165,000 shares of company stock valued at $728,150. Corporate insiders own 0.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in VTVT. Bank of New York Mellon Corp raised its stake in vTv Therapeutics by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 22,780 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 1,305 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in vTv Therapeutics during the first quarter valued at $261,000. Renaissance Technologies LLC raised its stake in vTv Therapeutics by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 60,900 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 11,901 shares in the last quarter. State Street Corp raised its stake in vTv Therapeutics by 2.1% in the second quarter. State Street Corp now owns 98,016 shares of the biotechnology company’s stock valued at $486,000 after buying an additional 1,976 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new stake in vTv Therapeutics during the first quarter valued at $917,000. 11.16% of the stock is owned by institutional investors and hedge funds.
vTv Therapeutics Company Profile
vTv Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of orally administered small molecule drug candidates. Its drug candidate for the treatment of Alzheimer’s disease (AD) is azeliragon (TTP488), an orally administered, small molecule antagonist targeting the receptor for advanced glycation endproducts (RAGE), for which it has commenced patient enrollment in a Phase III clinical trial.
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