Ventyx Biosciences (NASDAQ:VTYX) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Ventyx Biosciences (NASDAQ:VTYX) released its earnings results on Thursday. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.13, Zacks reports.

Ventyx Biosciences Trading Down 5.3%

Shares of NASDAQ:VTYX traded down $0.49 during mid-day trading on Friday, reaching $8.77. The stock had a trading volume of 2,638,343 shares, compared to its average volume of 9,987,450. The firm has a 50 day simple moving average of $4.21 and a two-hundred day simple moving average of $2.90. Ventyx Biosciences has a twelve month low of $0.78 and a twelve month high of $9.50. The firm has a market cap of $625.38 million, a PE ratio of -5.85 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VTYX. Oppenheimer upped their price objective on shares of Ventyx Biosciences from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen upgraded Ventyx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company raised their price objective on Ventyx Biosciences from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday. HC Wainwright upgraded Ventyx Biosciences from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group upped their target price on Ventyx Biosciences from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ventyx Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Hedge Funds Weigh In On Ventyx Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Ventyx Biosciences in the 2nd quarter valued at $5,129,000. AQR Capital Management LLC grew its stake in Ventyx Biosciences by 925.6% in the first quarter. AQR Capital Management LLC now owns 880,222 shares of the company’s stock valued at $1,012,000 after acquiring an additional 794,401 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ventyx Biosciences by 19.2% in the third quarter. Vanguard Group Inc. now owns 3,769,997 shares of the company’s stock worth $11,725,000 after acquiring an additional 607,725 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Ventyx Biosciences by 443.8% during the first quarter. Acadian Asset Management LLC now owns 537,054 shares of the company’s stock worth $614,000 after purchasing an additional 438,286 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Ventyx Biosciences by 723.7% during the 2nd quarter. Jane Street Group LLC now owns 400,597 shares of the company’s stock valued at $857,000 after purchasing an additional 351,962 shares in the last quarter. 97.88% of the stock is owned by institutional investors.

About Ventyx Biosciences

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.