Ventyx Biosciences (NASDAQ:VTYX) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Posted by on May 14th, 2022

Ventyx Biosciences (NASDAQ:VTYX – Get Rating) announced its quarterly earnings data on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.07, MarketWatch Earnings reports.

Shares of VTYX opened at $14.91 on Friday. Ventyx Biosciences has a 12 month low of $9.50 and a 12 month high of $26.00. The stock has a fifty day moving average price of $13.44 and a 200-day moving average price of $15.42.

A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Ventyx Biosciences by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 73,803 shares of the company’s stock worth $1,002,000 after acquiring an additional 2,482 shares during the last quarter. Citigroup Inc. purchased a new position in Ventyx Biosciences in the 4th quarter worth $56,000. California State Teachers Retirement System purchased a new position in Ventyx Biosciences in the 4th quarter worth $114,000. Wells Fargo & Company MN purchased a new position in Ventyx Biosciences in the 4th quarter worth $121,000. Finally, Deutsche Bank AG acquired a new stake in Ventyx Biosciences during the 4th quarter worth about $126,000. Institutional investors own 62.30% of the company’s stock.

A number of analysts have weighed in on VTYX shares. Credit Suisse Group started coverage on Ventyx Biosciences in a report on Monday, May 9th. They set an “outperform” rating and a $53.00 target price for the company. Zacks Investment Research upgraded Ventyx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, March 26th. Canaccord Genuity Group started coverage on Ventyx Biosciences in a report on Thursday, March 31st. They set a “buy” rating for the company. Canaccord Genuity Group started coverage on Ventyx Biosciences in a report on Thursday, March 31st. They set a “buy” rating and a $30.00 target price for the company. Finally, Oppenheimer began coverage on Ventyx Biosciences in a report on Tuesday, February 1st. They set an “outperform” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Ventyx Biosciences currently has an average rating of “Buy” and a consensus price target of $40.50.

About Ventyx Biosciences (Get Rating)

Ventyx Biosciences, Inc, a clinical-stage biopharmaceutical company, develops small molecule product candidates for inflammatory diseases and autoimmune disorders. The company's lead product candidate is VTX958, a tyrosine kinase type 2 inhibitor that is in phase I clinical trials for the treatment of immune-mediated diseases, such as psoriasis, inflammatory bowel disease, psoriatic arthritis, Crohn's disease, and lupus.

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