Zacks Investment Research upgraded shares of vTv Therapeutics Inc. (NASDAQ:VTVT) from a hold rating to a buy rating in a research report report published on Saturday morning. Zacks Investment Research currently has $6.00 price target on the biotechnology company’s stock.
According to Zacks, “vTv Therapeutics Inc. is a biopharmaceutical company which is engaged in the discovery and development of orally administered small molecule drug candidates to fill unmet medical needs. Its drug candidate for the treatment of Alzheimers disease includes azeliragon TTP488, which is in Phase III clinical trials; type II diabetes drug candidates include Glucokinase Activator TTP399 and GLP-1r Agonist TTP273 which completed Phase I clinical trials; products for the prevention of muscle weakness and treatment of inflammatory disorders include HPP593, HPP737 and HPP971 which is in Phase1 clinical trials. The Company’s drug discovery platform consists of TTP Translational Technology. vTv Therapeutics Inc. is headquartered in High Point, North Carolina. “
VTVT has been the subject of a number of other reports. Canaccord Genuity restated a buy rating and set a $15.00 price objective on shares of vTv Therapeutics in a research note on Friday, August 4th. HC Wainwright set a $13.00 price objective on shares of vTv Therapeutics and gave the stock a buy rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a buy rating, vTv Therapeutics presently has a consensus rating of Buy and an average target price of $14.40.
vTv Therapeutics (NASDAQ:VTVT) opened at 5.96 on Friday. The firm’s 50-day moving average price is $5.58 and its 200 day moving average price is $5.62. vTv Therapeutics has a 12-month low of $4.65 and a 12-month high of $7.50. The company’s market capitalization is $57.77 million.
vTv Therapeutics (NASDAQ:VTVT) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.19 million. On average, equities research analysts expect that vTv Therapeutics will post ($1.06) EPS for the current fiscal year.
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In other vTv Therapeutics news, major shareholder Ronald O. Perelman acquired 20,000 shares of vTv Therapeutics stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $4.57 per share, for a total transaction of $91,400.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ronald O. Perelman acquired 50,000 shares of vTv Therapeutics stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $4.72 per share, with a total value of $236,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 165,000 shares of company stock valued at $728,150. Company insiders own 0.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of VTVT. Bank of New York Mellon Corp boosted its stake in shares of vTv Therapeutics by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 22,780 shares of the biotechnology company’s stock worth $149,000 after buying an additional 1,305 shares during the last quarter. Sphera Funds Management LTD. boosted its stake in shares of vTv Therapeutics by 50.0% during the 1st quarter. Sphera Funds Management LTD. now owns 300,000 shares of the biotechnology company’s stock worth $1,965,000 after buying an additional 100,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of vTv Therapeutics by 4.8% during the 1st quarter. Renaissance Technologies LLC now owns 63,800 shares of the biotechnology company’s stock worth $418,000 after buying an additional 2,900 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of vTv Therapeutics by 62.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 264,214 shares of the biotechnology company’s stock worth $1,313,000 after buying an additional 101,850 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of vTv Therapeutics by 2.1% during the 2nd quarter. State Street Corp now owns 98,016 shares of the biotechnology company’s stock worth $486,000 after buying an additional 1,976 shares during the last quarter. Institutional investors own 11.05% of the company’s stock.
vTv Therapeutics Company Profile
vTv Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of orally administered small molecule drug candidates. Its drug candidate for the treatment of Alzheimer’s disease (AD) is azeliragon (TTP488), an orally administered, small molecule antagonist targeting the receptor for advanced glycation endproducts (RAGE), for which it has commenced patient enrollment in a Phase III clinical trial.
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