Ventyx Biosciences (NASDAQ:VTYX) Trading Up 12.2% – What’s Next?

Ventyx Biosciences, Inc. (NASDAQ:VTYX) shares were up 12.2% during trading on Wednesday . The stock traded as high as $9.11 and last traded at $9.0760. Approximately 2,868,011 shares were traded during trading, an increase of 35% from the average daily volume of 2,123,778 shares. The stock had previously closed at $8.09.

Wall Street Analyst Weigh In

Several research analysts have commented on VTYX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ventyx Biosciences in a report on Wednesday, October 8th. Wall Street Zen raised Ventyx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. HC Wainwright raised Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday. Finally, Oppenheimer boosted their price objective on Ventyx Biosciences from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.00.

Ventyx Biosciences Stock Performance

The business has a 50 day moving average of $3.81 and a two-hundred day moving average of $2.76. The firm has a market capitalization of $654.19 million, a price-to-earnings ratio of -5.43 and a beta of 1.21.

Ventyx Biosciences (NASDAQ:VTYX) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.07. On average, equities analysts predict that Ventyx Biosciences, Inc. will post -2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Ventyx Biosciences by 7.6% during the 2nd quarter. CWM LLC now owns 57,145 shares of the company’s stock worth $122,000 after purchasing an additional 4,057 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Ventyx Biosciences by 21.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,657 shares of the company’s stock worth $62,000 after purchasing an additional 5,174 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Ventyx Biosciences during the 2nd quarter worth approximately $34,000. Pallas Capital Advisors LLC bought a new stake in Ventyx Biosciences during the 2nd quarter worth approximately $38,000. Finally, Engineers Gate Manager LP bought a new stake in Ventyx Biosciences during the 2nd quarter worth approximately $42,000. 97.88% of the stock is owned by institutional investors and hedge funds.

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.