vTv Therapeutics Inc. (VTVT) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of vTv Therapeutics Inc. (NASDAQ:VTVT) from a buy rating to a hold rating in a report issued on Friday morning.
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. “
A number of other brokerages have also commented on VTVT. HC Wainwright set a $13.00 target price on vTv Therapeutics and gave the company a buy rating in a research report on Friday, August 4th. Canaccord Genuity reaffirmed a buy rating and issued a $15.00 target price on shares of vTv Therapeutics in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus target price of $14.50.
Shares of vTv Therapeutics (VTVT) traded up 2.93% on Friday, reaching $5.98. The company had a trading volume of 16,041 shares. vTv Therapeutics has a 12 month low of $4.65 and a 12 month high of $7.50. The stock has a 50-day moving average price of $5.65 and a 200-day moving average price of $5.65. The stock’s market cap is $57.96 million.
vTv Therapeutics (NASDAQ:VTVT) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.02. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.19 million. 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 acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $4.72 per share, with a total value of $236,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ronald O. Perelman acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $4.97 per share, with a total value of $49,700.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 165,000 shares of company stock valued at $728,150 over the last three months. Corporate insiders own 0.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. increased its holdings in 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 purchasing an additional 101,850 shares in the last quarter. State Street Corp increased its holdings in 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 purchasing an additional 1,976 shares in the last quarter. Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 2,900 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in 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 purchasing an additional 1,305 shares in the last quarter. 11.05% of the stock is owned by hedge funds and other institutional investors.
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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