Investors Buy High Volume of Call Options on Ventyx Biosciences (NASDAQ:VTYX)

Key Points

• Ventyx Biosciences (NASDAQ:VTYX) saw a significant increase in options trading, with investors purchasing 8,144 call options, marking a 1,509% rise from the average daily volume.
• The stock surged 91.5% in midday trading, reaching $7.39, with a total of 86.9 million shares exchanged, far exceeding its typical trading volume.
• Analysts currently have a consensus rating of "Hold" on VTYX shares, with a price target set at $7.50, despite mixed ratings from different firms.

Ventyx Biosciences, Inc. (NASDAQ:VTYX - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 8,144 call options on the stock. This is an increase of approximately 1,509% compared to the average daily volume of 506 call options.

Ventyx Biosciences Trading Up 91.5%

Ventyx Biosciences stock traded up $3.53 during midday trading on Thursday, reaching $7.39. 86,873,093 shares of the stock traded hands, compared to its average volume of 1,819,560. The firm has a market cap of $527.19 million, a price-to-earnings ratio of -4.35 and a beta of 1.01. The firm has a fifty day moving average price of $2.96 and a two-hundred day moving average price of $2.33. Ventyx Biosciences has a fifty-two week low of $0.78 and a fifty-two week high of $7.82.

Ventyx Biosciences (NASDAQ:VTYX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.07. Analysts anticipate that Ventyx Biosciences will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Ventyx Biosciences

Several large investors have recently bought and sold shares of the stock. Affinity Asset Advisors LLC bought a new position in shares of Ventyx Biosciences during the 2nd quarter valued at about $9,707,000. Marshall Wace LLP acquired a new stake in shares of Ventyx Biosciences during the second quarter valued at approximately $5,129,000. Redmile Group LLC boosted its holdings in shares of Ventyx Biosciences by 1,164.1% during the first quarter. Redmile Group LLC now owns 1,569,793 shares of the company's stock worth $1,805,000 after purchasing an additional 1,445,615 shares during the period. Monaco Asset Management SAM boosted its holdings in shares of Ventyx Biosciences by 372.7% during the first quarter. Monaco Asset Management SAM now owns 1,134,444 shares of the company's stock worth $1,305,000 after purchasing an additional 894,444 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ventyx Biosciences by 8.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 945,206 shares of the company's stock worth $2,023,000 after purchasing an additional 73,601 shares during the period. Institutional investors and hedge funds own 97.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on VTYX shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ventyx Biosciences in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Ventyx Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.50.

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.

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