Zacks Investment Research Lowers vTv Therapeutics Inc. (VTVT) to Hold
Zacks Investment Research lowered shares of vTv Therapeutics Inc. (NASDAQ:VTVT) from a buy rating to a hold rating in a report issued on Saturday morning.
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. “
A number of other brokerages have also recently issued reports on VTVT. HC Wainwright set a $13.00 price objective on shares of vTv Therapeutics and gave the company a buy rating in a report on Thursday, May 4th. Canaccord Genuity restated a buy rating and set a $15.00 price objective on shares of vTv Therapeutics in a report on Friday, August 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $14.25.
vTv Therapeutics (VTVT) opened at 5.01 on Friday. vTv Therapeutics has a 12 month low of $3.57 and a 12 month high of $7.50. The firm’s market capitalization is $48.56 million. The company’s 50 day moving average price is $4.54 and its 200 day moving average price is $5.21.
vTv Therapeutics (NASDAQ:VTVT) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ 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 anticipate that vTv Therapeutics will post ($1.06) EPS for the current year.
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In other news, major shareholder Ronald O. Perelman acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $4.57 per share, for a total transaction of $91,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ronald O. Perelman acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average price of $4.72 per share, with a total value of $236,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 165,000 shares of company stock valued at $728,150. Corporate insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of 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 worth $149,000 after buying an additional 1,305 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of vTv Therapeutics during the first quarter worth $261,000. Renaissance Technologies LLC raised its position in shares of vTv Therapeutics by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 60,900 shares of the biotechnology company’s stock worth $294,000 after buying an additional 11,901 shares during the last quarter. State Street Corp raised its position in shares of vTv Therapeutics by 2.1% in the second quarter. State Street Corp now owns 98,016 shares of the biotechnology company’s stock worth $486,000 after buying an additional 1,976 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of vTv Therapeutics during the first quarter worth $917,000. 11.05% of the stock is currently owned by hedge funds and other institutional investors.
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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