vTv Therapeutics (NASDAQ:VTVT) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• vTv Therapeutics shares moved above their 50-day moving average of $33.39 during Friday trading, reaching $33.53 before last trading at $32.35.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy, with an average target price of $56.67; BTIG Research and Rodman & Renshaw set targets of $57 and $67, respectively.
• The company reported quarterly EPS of $1.65, significantly above the $0.21 consensus estimate, while revenue of $36.84 million exceeded expectations of $20 million. Institutional investors own 17.51% of the stock.

vTv Therapeutics Inc. (NASDAQ:VTVT - Get Free Report) crossed 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 trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VTVT. Wall Street Zen upgraded vTv Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. BTIG Research lifted their target price on shares of vTv Therapeutics from $49.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. 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. Rodman & Renshaw assumed coverage on shares of vTv Therapeutics in a research note on Tuesday, June 30th. They set a "buy" rating and a $67.00 price target on the stock. Finally, Zacks Research downgraded shares of vTv Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.67.

vTv Therapeutics Price Performance

The business's 50 day moving average is $33.39 and its two-hundred day moving average is $34.91. The firm has a market capitalization of $127.46 million, a PE ratio of -34.78 and a beta of 0.25.

vTv Therapeutics (NASDAQ:VTVT - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $1.44. The company had revenue of $36.84 million during the quarter, compared to analysts' expectations of $20.00 million. Analysts expect that vTv Therapeutics Inc. will post -2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On vTv Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in vTv Therapeutics in the 4th quarter worth approximately $221,000. 683 Capital Management LLC bought a new position in shares of vTv Therapeutics in the fourth quarter worth approximately $731,000. Finally, Geode Capital Management LLC increased its stake in shares of vTv Therapeutics by 84.3% in the fourth quarter. Geode Capital Management LLC now owns 28,194 shares of the biotechnology company's stock worth $1,128,000 after buying an additional 12,896 shares during the period. Hedge funds and other institutional investors own 17.51% of the company's stock.

About vTv Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.