Ventyx Biosciences, Inc. (NASDAQ: VTYX) has received an average price target of $15.50 from analysts covering the firm, according to data from MarketBeat.com. Currently, five analysts are monitoring the company, with one recommending a sell and four advocating for a buy. This reflects a general sentiment of a Moderate Buy rating for the stock.
Recent research reports have highlighted shifts in price targets for Ventyx. Notably, HC Wainwright upgraded its rating from “neutral” to “buy” with a price target of $18.00 on November 5, 2023. Similarly, Oppenheimer raised its price target from $9.00 to $14.00 and assigned the stock an “outperform” rating on October 27, 2023. Conversely, Weiss Ratings maintained a “sell (d-)” rating as of October 8, 2023.
On November 7, 2023, Canaccord Genuity Group adjusted its price target from $14.00 to $16.00 while reiterating a “buy” rating. Wells Fargo & Company also increased its target from $11.00 to $14.00, giving the stock an “overweight” rating on the same day.
Company Performance and Insider Activity
Ventyx Biosciences reported its earnings results on November 6, 2023. The company posted an earnings per share (EPS) of ($0.32), surpassing analysts’ consensus estimate of ($0.45) by $0.13. Analysts predict an EPS of ($2.09) for the current fiscal year.
In terms of insider transactions, John Nuss, an insider at Ventyx Biosciences, sold 12,675 shares on December 18, 2023, at an average price of $7.72, totaling $97,851. Following this sale, Nuss holds 489,481 shares valued at approximately $3,778,793. This transaction represented a 2.52% decrease in his holdings.
CEO Raju Mohan also sold 47,345 shares on December 18, 2023, for a total of $365,503. After this sale, Mohan retains 2,372,863 shares, valued at around $18,318,502. His sale indicated a 1.96% reduction in ownership. Corporate insiders collectively own 18.18% of Ventyx’s stock.
Institutional Investment Trends
Institutional investors have recently made significant adjustments to their holdings in Ventyx Biosciences. Affinity Asset Advisors LLC acquired a new stake valued at $9,707,000 during the second quarter. Vanguard Group Inc. increased its position by 19.2% in the third quarter, now owning 3,769,997 shares valued at $11,725,000 after adding 607,725 shares.
Additionally, Marshall Wace LLP purchased a new stake in Ventyx during the second quarter, estimated at about $5,129,000. Vestal Point Capital LP increased its stake by 2.5% in the third quarter, now holding 2,050,000 shares worth approximately $6,376,000. Millennium Management LLC also expanded its stake by 17.5%, holding 1,651,794 shares valued at $5,137,000 after acquiring 246,040 additional shares.
These institutional holdings account for approximately 97.88% of Ventyx Biosciences’ stock, indicating strong confidence from larger investors in the company’s potential.
Ventyx Biosciences focuses on developing small molecule product candidates aimed at treating a variety of inflammatory diseases. Its leading candidate, VTX958, is a selective allosteric tyrosine kinase type 2 inhibitor targeting psoriasis, psoriatic arthritis, and Crohn’s disease. Other products in development include VTX002, a sphingosine 1 phosphate receptor modulator currently undergoing Phase II trials for ulcerative colitis, and VTX2735, which targets cryopyrin-associated periodic syndrome.
The company’s strategic focus on addressing complex medical conditions positions it as a notable player in the biopharmaceutical sector.
