Ventyx Biosciences, Inc. (NASDAQ:VTYX – Get Free Report)’s stock price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $34.87, but opened at $32.51. Ventyx Biosciences shares last traded at $32.23, with a volume of 171,085 shares.
The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.20). During the same quarter in the previous year, the company earned ($0.39) earnings per share.
Analysts Set New Price Targets
Several brokerages have commented on VTYX. 500.com reaffirmed a “reiterates” rating on shares of Ventyx Biosciences in a research report on Friday, May 12th. Oppenheimer dropped their price objective on Ventyx Biosciences from $62.00 to $57.00 in a research report on Friday. Credit Suisse Group dropped their price objective on Ventyx Biosciences from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, HC Wainwright decreased their price target on Ventyx Biosciences from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Friday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $57.22.
Insider Buying and Selling at Ventyx Biosciences
In other news, insider William J. Sandborn sold 10,629 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $34.26, for a total value of $364,149.54. Following the completion of the transaction, the insider now directly owns 48,389 shares in the company, valued at $1,657,807.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider John Nuss sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $39.58, for a total value of $791,600.00. Following the completion of the transaction, the insider now directly owns 244,815 shares in the company, valued at $9,689,777.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William J. Sandborn sold 10,629 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $34.26, for a total value of $364,149.54. Following the completion of the transaction, the insider now owns 48,389 shares of the company’s stock, valued at $1,657,807.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 602,202 shares of company stock worth $21,893,179. 24.39% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Credit Suisse AG raised its position in Ventyx Biosciences by 161.9% during the second quarter. Credit Suisse AG now owns 36,882 shares of the company’s stock valued at $1,210,000 after acquiring an additional 22,798 shares in the last quarter. BlackRock Inc. raised its position in Ventyx Biosciences by 57.5% during the second quarter. BlackRock Inc. now owns 3,226,572 shares of the company’s stock valued at $105,832,000 after acquiring an additional 1,177,971 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Ventyx Biosciences by 93.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,865 shares of the company’s stock valued at $127,000 after acquiring an additional 1,870 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Ventyx Biosciences during the second quarter valued at approximately $436,000. Finally, The Manufacturers Life Insurance Company raised its position in Ventyx Biosciences by 30.1% during the second quarter. The Manufacturers Life Insurance Company now owns 88,840 shares of the company’s stock valued at $2,914,000 after acquiring an additional 20,561 shares in the last quarter.
Ventyx Biosciences Stock Down 4.2 %
The firm has a 50-day moving average of $34.88 and a two-hundred day moving average of $36.84. The company has a market capitalization of $1.80 billion, a PE ratio of -14.24 and a beta of -0.40.
About Ventyx Biosciences
Ventyx Biosciences, Inc, a clinical-stage biopharmaceutical company, develops small molecule product candidates to address a range of inflammatory diseases. Its lead clinical product candidate is VTX958, a selective allosteric tyrosine kinase type 2 inhibitor for psoriasis, psoriatic arthritis, and Crohn's disease.
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