vTv Therapeutics (NASDAQ:VTVT) Stock Crosses Above 50 Day Moving Average – Here’s Why

vTv Therapeutics Inc. (NASDAQ:VTVT)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $33.39 and traded as high as $33.53. vTv Therapeutics shares last traded at $32.35, with a volume of 136,838 shares traded.

Analysts Set New Price Targets

VTVT has been the subject of a number of recent analyst reports. Wall Street Zen raised vTv Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. BTIG Research lifted their price target on shares of vTv Therapeutics from $49.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Zacks Research downgraded vTv Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Weiss Ratings raised shares of vTv Therapeutics from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Finally, Rodman & Renshaw began coverage on shares of vTv Therapeutics in a research note on Tuesday, June 30th. They set a “buy” rating and a $67.00 price objective for the company. Six equities research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

vTv Therapeutics Stock Down 1.0%

The firm’s fifty day moving average price is $33.39 and its two-hundred day moving average price is $34.91. The stock has a market capitalization of $127.46 million, a PE ratio of -34.78 and a beta of 0.25.

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

Hedge Funds Weigh In On vTv Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in vTv Therapeutics by 84.3% during the fourth quarter. Geode Capital Management LLC now owns 28,194 shares of the biotechnology company’s stock valued at $1,128,000 after acquiring an additional 12,896 shares during the last quarter. 683 Capital Management LLC purchased a new position in vTv Therapeutics in the fourth quarter worth about $731,000. Finally, Goldman Sachs Group Inc. purchased a new position in vTv Therapeutics in the fourth quarter worth about $221,000. 17.51% of the stock is currently owned by hedge funds and other institutional investors.

vTv Therapeutics Company Profile

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.