Ventyx Biosciences (VTYX) stock rocketed higher on Thursday after the clinical-stage biopharmaceutical company posted results from a Phase 2 study of VTX3232, a treatment in development for patients with obesity and cardiovascular risk factors. The study tested the effectiveness of VTX3232 alone and combined with semaglutide when compared to a placebo.
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The good news is that Ventyx Biosciences reported impressive results from this clinical trial. Patients in the monotherapy arm saw a 78% reduction in hsCRP at week 12 compared to a 3% increase in the placebo arm. The study also saw a 64% reduction in hsCRP at week 12 for patients in the full analysis set. Additionally, patients treated with VTX3232 experienced significant reductions in lipoprotein, fibrinogen, and erythrocyte sedimentation rate.
Ventyx Biosciences Chief Medical Officer Mark Forman said, “These results support further development and VTX3232’s potential to address the high burden of disease caused by inflammation.” The company intends to present additional data from this study at upcoming medical conferences.
Ventyx Biosciences Stock Movement Today
Ventyx Biosciences stock was up 107.12% in pre-market trading on Thursday, following a 2.66% rally yesterday. The shares have also climbed 76.26% year-to-date and over the past 12 months. Today’s news came with heavy trading, as some 35 million shares changed hands, compared to a three-month daily average of about 1.3 million units.
Is Ventyx Biosciences Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Ventyx Biosciences is Strong Buy, based on five Buy and a single Hold rating over the past three months. With that comes an average VTYX stock price target of $13.75, representing a potential 256.22% upside for the shares.
