vTv Therapeutics (VTVT) Trading Up 37.3% Following Insider Buying Activity
vTv Therapeutics Inc (NASDAQ:VTVT) was up 37.3% during mid-day trading on Friday following insider buying activity. The company traded as high as $6.12 and last traded at $5.56. Approximately 3,642,300 shares were traded during trading, an increase of 7,230% from the average daily volume of 49,690 shares. The stock had previously closed at $4.05.
Specifically, Director Paul G. Savas purchased 15,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were acquired at an average cost of $4.56 per share, for a total transaction of $68,400.00. Following the completion of the purchase, the director now directly owns 81,781 shares in the company, valued at approximately $372,921.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ronald O. Perelman purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average price of $4.03 per share, for a total transaction of $201,500.00. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
A number of research analysts have recently issued reports on VTVT shares. Zacks Investment Research upgraded shares of vTv Therapeutics from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Saturday, September 9th. Citigroup reissued an “add” rating on shares of vTv Therapeutics in a report on Wednesday, November 8th. Stifel Nicolaus reissued a “buy” rating and set a $12.00 price objective on shares of vTv Therapeutics in a report on Friday, November 3rd. Finally, Canaccord Genuity set a $15.00 price objective on shares of vTv Therapeutics and gave the stock a “buy” rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.10.
The firm has a market capitalization of $197.20 and a price-to-earnings ratio of -3.66.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of vTv Therapeutics by 2.1% in the second 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of vTv Therapeutics by 4.8% in the first 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 in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of vTv Therapeutics in the third quarter valued at about $481,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of vTv Therapeutics by 62.7% in the second 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 in the last quarter. 10.42% of the stock is currently owned by hedge funds and other institutional investors.
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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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