Zacks Investment Research upgraded shares of vTv Therapeutics Inc. (NASDAQ:VTVT) from a hold rating to a buy rating in a report released on Saturday. They currently have $6.25 price target on the biotechnology company’s stock.
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 analysts also recently commented on the stock. Canaccord Genuity reiterated a buy rating and issued a $15.00 price objective on shares of vTv Therapeutics in a report on Friday, August 4th. HC Wainwright set a $13.00 price objective on shares of vTv Therapeutics and gave the company a buy rating in a report on Friday, August 4th. Five equities research analysts have rated the stock with a buy rating, vTv Therapeutics currently has an average rating of Buy and a consensus target price of $14.45.
Shares of vTv Therapeutics (VTVT) traded down 0.70% during midday trading on Friday, reaching $5.65. The company’s stock had a trading volume of 19,369 shares. The company has a 50 day moving average price of $4.69 and a 200-day moving average price of $5.21. The stock’s market capitalization is $54.77 million. vTv Therapeutics has a 52 week low of $3.57 and a 52 week high of $7.50.
vTv Therapeutics (NASDAQ:VTVT) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.02. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.19 million. On average, equities research analysts expect that vTv Therapeutics will post ($1.06) EPS for the current year.
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In other news, major shareholder Ronald O. Perelman purchased 85,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $351,050.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ronald O. Perelman purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average price of $4.97 per share, with a total value of $49,700.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 165,000 shares of company stock valued at $728,150. 0.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sphera Funds Management LTD. increased its holdings in shares of vTv Therapeutics by 50.0% during the 1st quarter. Sphera Funds Management LTD. now owns 300,000 shares of the biotechnology company’s stock worth $1,965,000 after buying an additional 100,000 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of vTv Therapeutics by 62.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 264,214 shares of the biotechnology company’s stock worth $1,313,000 after buying an additional 101,850 shares during the last quarter. State Street Corp increased its holdings in shares of vTv Therapeutics by 2.1% during the 2nd 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. Renaissance Technologies LLC increased its holdings in shares of vTv Therapeutics by 4.8% during the 1st quarter. Renaissance Technologies LLC now owns 63,800 shares of the biotechnology company’s stock worth $418,000 after buying an additional 2,900 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of vTv Therapeutics by 6.1% during the 1st 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. Institutional investors and hedge funds own 11.05% of the company’s stock.
About vTv Therapeutics
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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