vTv Therapeutics (VTVT) Stock Price Down 19%

vTv Therapeutics Inc (NASDAQ:VTVT)’s share price dropped 19% during trading on Tuesday . The company traded as low as $2.25 and last traded at $2.35. Approximately 897,246 shares traded hands during trading, a decline of 42% from the average daily volume of 1,534,886 shares. The stock had previously closed at $2.90.

Separately, Zacks Investment Research cut vTv Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.11.

The company has a market cap of $103.26 million, a PE ratio of -1.55 and a beta of 1.61.

vTv Therapeutics (NASDAQ:VTVT) last announced its quarterly earnings data on Friday, August 3rd. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The business had revenue of $2.47 million for the quarter, compared to analyst estimates of $2.46 million. On average, equities analysts anticipate that vTv Therapeutics Inc will post -0.92 earnings per share for the current fiscal year.

In other vTv Therapeutics news, major shareholder Ronald O. Perelman acquired 570,777 shares of vTv Therapeutics stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average price of $4.38 per share, with a total value of $2,500,003.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ronald O. Perelman acquired 1,879,699 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was bought at an average price of $1.33 per share, with a total value of $2,499,999.67. The disclosure for this purchase can be found here. Insiders have bought 4,335,175 shares of company stock valued at $7,505,003 over the last quarter. Company insiders own 2.00% of the company’s stock.

A hedge fund recently raised its stake in vTv Therapeutics stock. Millennium Management LLC boosted its stake in vTv Therapeutics Inc (NASDAQ:VTVT) by 51.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,031 shares of the biotechnology company’s stock after purchasing an additional 32,362 shares during the period. Millennium Management LLC owned about 0.29% of vTv Therapeutics worth $387,000 at the end of the most recent reporting period. 2.34% of the stock is owned by institutional investors and hedge funds.

About vTv Therapeutics (NASDAQ:VTVT)

vTv Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers, develops, and sells orally administered small molecule drug candidates worldwide. The company's drug candidates comprise azeliragon (TTP488), an orally administered, small molecule antagonist targeting the receptor for advanced glycation endproducts, which is in Phase III clinical trials for the treatment of Alzheimer's disease.

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