VTYX short interest declines, indicating growing optimism among investors

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ventyx Biosciences Inc shares valued at $124,660 were sold by Mohan Raju on Dec 20. At $2.12 per share, Mohan Raju sold 58,860 shares. The insider’s holdings dropped to 1,570,719 shares worth approximately $3.71 million following the completion of this transaction.

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Also, Nuss John sold 17,628 shares, netting a total of over 37,334 in proceeds. Following the sale of shares at $2.12 each, the insider now holds 262,118 shares.

Before that, Krueger Christopher W had sold 5,293 shares from its account. In a trade valued at $11,210, the Chief Business Officer traded Ventyx Biosciences Inc shares for $2.12 each. Upon closing the transaction, the insider’s holdings decreased to 5,293 shares, worth approximately $0.67 million.

As published in a research note from Wells Fargo on November 07, 2023, Ventyx Biosciences Inc [VTYX] has been rated down from an Overweight to an Equal weight and the price target has been revised to $8 from $77.

Analyzing VTYX Stock Performance

During the last five days, there has been a surge of approximately 5.36%. Over the course of the year, Ventyx Biosciences Inc shares have dropped approximately -4.45%. Shares of the company reached a 52-week high of $2.81 on 01/02/24 and a 52-week low of $1.87 on 01/19/24. A 50-day SMA is recorded $2.25, while a 200-day SMA reached $22.43. Nevertheless, trading volume fell to 0.67 million shares from 0.92 million shares the previous day.

Support And Resistance Levels for Ventyx Biosciences Inc (VTYX)

According to the 24-hour chart, there is a support level at 2.24, which, if violated, would cause prices to drop to 2.13. In the upper region, resistance lies at 2.42. The next price resistance is at 2.49. RSI (Relative Strength Index) is 49.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 17.65%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Ventyx Biosciences Inc subject to short interest?

Stocks of Ventyx Biosciences Inc saw a sharp steep in short interest on Jan 11, 2024 dropping by -2.27 million shares to 4.98 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 7.25 million shares. A decline of -45.58% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.83 of the overall float, the days-to-cover ratio (short ratio) decline to 1.83.

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