Zacks Investment Research Lowers vTv Therapeutics Inc. (VTVT) to Hold
vTv Therapeutics Inc. (NASDAQ:VTVT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
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. “
Several other analysts also recently commented on VTVT. HC Wainwright set a $13.00 price objective on shares of vTv Therapeutics and gave the company a “buy” rating in a report on Friday, August 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 price objective on shares of vTv Therapeutics in a report on Friday, August 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $14.30.
vTv Therapeutics (VTVT) traded up 0.73% on Thursday, reaching $5.55. 462 shares of the company’s stock traded hands. vTv Therapeutics has a 12-month low of $3.57 and a 12-month high of $7.50. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $5.20. The stock’s market cap is $53.80 million.
vTv Therapeutics (NASDAQ:VTVT) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.02. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.19 million. Analysts forecast that vTv Therapeutics will post ($1.06) EPS for the current year.
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In other news, major shareholder Ronald O. Perelman bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average cost of $4.72 per share, for a total transaction of $236,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ronald O. Perelman bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $4.97 per share, with a total value of $49,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 165,000 shares of company stock valued at $728,150. Company insiders own 0.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of VTVT. Bank of New York Mellon Corp lifted its stake in shares of vTv Therapeutics by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 22,780 shares of the biotechnology company’s stock valued at $149,000 after purchasing an additional 1,305 shares during the period. Renaissance Technologies LLC lifted its stake in shares of vTv Therapeutics by 4.8% in the 1st quarter. Renaissance Technologies LLC now owns 63,800 shares of the biotechnology company’s stock valued at $418,000 after purchasing an additional 2,900 shares during the period. State Street Corp lifted its stake in shares of vTv Therapeutics by 2.1% in the 2nd quarter. State Street Corp now owns 98,016 shares of the biotechnology company’s stock valued at $486,000 after purchasing an additional 1,976 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of vTv Therapeutics by 62.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 264,214 shares of the biotechnology company’s stock valued at $1,313,000 after purchasing an additional 101,850 shares during the period. Finally, Sphera Funds Management LTD. lifted its stake in shares of vTv Therapeutics by 50.0% in the 1st quarter. Sphera Funds Management LTD. now owns 300,000 shares of the biotechnology company’s stock valued at $1,965,000 after purchasing an additional 100,000 shares during the period. Hedge funds and other 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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