John Nuss, the Chief Scientific Officer of Ventyx Biosciences, Inc. (NASDAQ:VTYX), recently sold shares of the company's common stock. According to a recent filing with the Securities and Exchange Commission, Nuss sold 13,161 shares on December 19, 2024, at an average price of $2.2553 per share, totaling approximately $29,682. The transaction occurred near the stock's 52-week low of $1.67, with shares currently trading at $2.28. InvestingPro analysis indicates the stock is currently undervalued, with analysts setting price targets ranging from $2 to $21.
This transaction was carried out as a broker-assisted sale to cover tax obligations related to the vesting of restricted stock units. Following this sale, Nuss holds 485,701 shares of Ventyx Biosciences.
Additionally, on December 17, 2024, Nuss acquired 34,930 shares of common stock through the vesting of restricted stock units, with no cash exchanged in this transaction.
In other recent news, Ventyx Biosciences has announced several key developments. The company presented encouraging long-term efficacy data from its Phase 2 study of tamuzimod, a treatment for ulcerative colitis, at the United European Gastroenterology Week Conference. The study achieved its primary endpoint of clinical remission, with increased remission rates observed for both 30 mg and 60 mg doses. Despite these positive results, Ventyx Biosciences does not plan to advance tamuzimod into Phase 3 trials without a partner.
In addition, the company has received a $27 million investment from pharmaceutical giant Sanofi (NASDAQ:SNY), linked to Ventyx's drug candidate for Parkinson's disease and obesity, VTX3232. This investment is expected to extend the company's financial runway into the second half of 2026. However, the company's Phase 2 trial of another drug, VTX958, did not meet its primary goal in treating Crohn's disease, and Ventyx has indicated it will not conduct further trials of VTX958 with its internal resources.
Analysts at H.C. Wainwright have maintained a Neutral rating for Ventyx Biosciences, while Piper Sandler has kept its Overweight rating and Oppenheimer has retained an Outperform rating despite a reduced price target. Finally, Ventyx Biosciences reported a net quarterly loss of $38.6 million, with cash, cash equivalents, and marketable securities totaling $279.7 million.
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