vTv Therapeutics Inc. (VTVT) Downgraded by Zacks Investment Research to “Hold”
vTv Therapeutics Inc. (NASDAQ:VTVT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “
Other equities research analysts also recently issued reports about the stock. HC Wainwright set a $13.00 price objective on shares of vTv Therapeutics and gave the company a “buy” rating in a research report on Friday, August 4th. Canaccord Genuity reissued a “buy” rating and issued a $15.00 price objective on shares of vTv Therapeutics in a research report on Friday, August 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. vTv Therapeutics has an average rating of “Buy” and an average target price of $14.50.
Shares of vTv Therapeutics (NASDAQ VTVT) traded up 4.23% during midday trading on Thursday, reaching $6.40. 24,696 shares of the company’s stock traded hands. vTv Therapeutics has a 1-year low of $4.65 and a 1-year high of $7.25. The stock’s market capitalization is $62.04 million. The firm’s 50-day moving average price is $5.84 and its 200 day moving average price is $5.84.
vTv Therapeutics (NASDAQ:VTVT) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.02. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.19 million. On average, equities analysts predict that vTv Therapeutics will post ($1.06) earnings per share for the current fiscal year.
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In related news, major shareholder Ronald O. Perelman bought 85,000 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $351,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ronald O. Perelman bought 10,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was bought 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. In the last 90 days, insiders 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 modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings 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 buying an additional 101,850 shares in the last quarter. State Street Corp boosted its holdings 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 buying an additional 1,976 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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 buying an additional 2,900 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 buying an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 11.05% of the company’s stock.
About vTv Therapeutics
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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