vTv Therapeutics (NASDAQ:VTVT) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Shares of vTv Therapeutics Inc. (NASDAQ:VTVT) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $33.89 and traded as low as $30.71. vTv Therapeutics shares last traded at $31.66, with a volume of 156,641 shares trading hands.

Analysts Set New Price Targets

VTVT has been the subject of several research analyst reports. Rodman & Renshaw started coverage on vTv Therapeutics in a research report on Tuesday, June 30th. They issued a “buy” rating and a $67.00 price objective for the company. BTIG Research raised their target price on vTv Therapeutics from $49.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings raised vTv Therapeutics from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of vTv Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Zacks Research lowered shares of vTv Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, vTv Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

vTv Therapeutics Price Performance

The firm has a market capitalization of $121.08 million, a P/E ratio of -33.04 and a beta of 0.25. The stock’s 50 day moving average is $33.79 and its two-hundred day moving average is $35.22.

vTv Therapeutics (NASDAQ:VTVT) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.21 by $1.44. The business had revenue of $36.84 million during the quarter, compared to analyst estimates of $20.00 million. As a group, equities research analysts expect that vTv Therapeutics Inc. will post -2.19 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of vTv Therapeutics by 84.3% during the fourth quarter. Geode Capital Management LLC now owns 28,194 shares of the biotechnology company’s stock worth $1,128,000 after purchasing an additional 12,896 shares during the period. 683 Capital Management LLC acquired a new position in vTv Therapeutics in the fourth quarter valued at about $731,000. Finally, Goldman Sachs Group Inc. acquired a new position in vTv Therapeutics in the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 17.51% of the company’s stock.

About vTv Therapeutics

vTv Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Westport, Connecticut, focused on discovering and developing orally administered small-molecule therapies for chronic diseases. Employing its proprietary medicinal chemistry platform, the company seeks to generate novel compounds that modulate key disease pathways while optimizing safety and pharmacokinetic properties.

The company’s lead candidate, azeliragon (TTP488), is an oral inhibitor of the receptor for advanced glycation end products (RAGE) and has completed Phase II/III clinical evaluation in early-stage Alzheimer’s disease.