Ventyx Biosciences Chief Scientific Officer sells $49,840 worth of stock By Investing.com
SAN DIEGO—John Nuss, Chief Scientific Officer of Ventyx Biosciences, Inc. (NASDAQ:VTYX), recently sold part of its stake in the company. According to a recent filing with the SEC, Nuss sold 21,119 shares of Ventyx Biosciences on December 27, 2024. The shares were sold at a weighted average price of approximately $2.36, for a total transaction value of $49,840. The transaction comes as the stock is trading near a 52-week low of $1.67 and the company’s market capitalization is currently $168 million. InvestingPro analysis shows that the stock is currently undervalued based on the fair value estimate.
Following this sale, Nuss retains ownership of 464,582 shares of the company. The sales were carried out as part of regular portfolio management and do not necessarily indicate changes in executive directors’ confidence in the company. While InvestingPro data shows that the company maintains strong liquidity with a current ratio of 23.52 and has more cash than debt, it is worth noting that four analysts recently revised their earnings expectations downward. Subscribers to InvestingPro can access detailed insider trading patterns and eight additional key insights into VTYX’s financial health.
In other recent news, Ventyx Biosciences reported encouraging results from its Phase 2 study of tamuzimod for ulcerative colitis, with significant remission rates observed. The company also announced a $27 million investment from the pharmaceutical giant Sanofi (NASDAQ: ), related to Ventyx’s Parkinson’s disease and obesity drug candidate, VTX3232. There was also a leadership transition, with CFO Martin Auster stepping down and Roy Gonzales stepping in as interim chief financial (NASDAQ: ) officer and chief accounting officer.
Analyst notes indicate that HC Wainwright maintained its Neutral rating on Ventyx Biosciences, while Piper Sandler maintained its Overweight rating. Oppenheimer, on the other hand, cut its price target but maintained its Outperform rating. The company reported a net quarterly loss of $38.6 million, with cash, cash equivalents and marketable securities totaling $279.7 million.
In addition, Ventyx’s drug, VTX958, showed a positive effect on a key secondary endpoint in its phase 2 trial for Crohn’s disease, despite missing its primary endpoint. However, Ventyx has stated that it will not conduct further testing of the VTX958 with its internal resources. These are one of the recent developments in the company’s operations.
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