vTv Therapeutics (NASDAQ:VTVT) Sees Unusually-High Trading Volume on Insider Buying Activity
vTv Therapeutics Inc (NASDAQ:VTVT) saw unusually-strong trading volume on Wednesday after an insider bought additional shares in the company. Approximately 876,219 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 818,290 shares.The stock last traded at $1.47 and had previously closed at $1.38.
Specifically, major shareholder Ronald O. Perelman bought 1,212,121 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average price of $1.65 per share, for a total transaction of $1,999,999.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ronald O. Perelman bought 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average price of $1.38 per share, for a total transaction of $69,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 5,048,485 shares of company stock valued at $8,265,500. 1.70% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Zacks Investment Research cut vTv Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of vTv Therapeutics in a research report on Friday, August 16th. ValuEngine cut shares of vTv Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Northland Securities reiterated a “buy” rating and issued a $8.00 price target on shares of vTv Therapeutics in a research report on Thursday, August 1st.
vTv Therapeutics (NASDAQ:VTVT) last announced its earnings results on Wednesday, July 31st. The biotechnology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $1.83 million for the quarter, compared to analyst estimates of $1.63 million. On average, analysts forecast that vTv Therapeutics Inc will post -0.53 earnings per share for the current fiscal year.
An institutional investor recently raised its position in vTv Therapeutics stock. BlackRock Inc. boosted its position in vTv Therapeutics Inc (NASDAQ:VTVT) by 25.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,031 shares of the biotechnology company’s stock after buying an additional 13,305 shares during the period. BlackRock Inc. owned approximately 0.12% of vTv Therapeutics worth $93,000 as of its most recent SEC filing. 1.64% of the stock is currently owned by hedge funds and other institutional investors.
About vTv Therapeutics (NASDAQ:VTVT)
vTv Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers and develops orally administered small molecule drug candidates to fill unmet medical needs. The company is developing Azeliragon, an orally administered, small molecule antagonist targeting the receptor for advanced glycation endproducts, which is in Phase II/III clinical trials for the treatment of mild Alzheimer's disease.
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