Ventyx Biosciences Inc. (NASDAQ:VTYX) shares are trending on Wednesday.
Check out the current price of VTVX stock here.
Shares of the biopharma company jumped 62.59% to $16.34 in after-hours trading on Tuesday, following reports that Indianapolis-based Eli Lilly & Co. (NYSE:LLY) is in advanced talks to acquire the company for more than $1 billion, according to The Wall Street Journal.
The report, citing sources, said a deal could be announced imminently.
Ventyx and Eli Lilly did not immediately respond to Benzinga's request for comment.
Pipeline Focus
Ventyx, a San Diego-based clinical-stage biotechnology company, is developing oral therapies for inflammatory diseases such as Crohn's disease and rheumatoid arthritis.
One of its drug candidates is also in mid-stage clinical trials for cardiovascular disease linked to obesity.
Industry Competition
Ventyx focuses on NLRP3, a protein complex that plays a role in the body's inflammatory response. Large drugmakers, including Roche Holding (OTC:RHHBY) and Novo Nordisk (NYSE:NVO) , have shown interest in the emerging category, according to Jefferies analysts. An acquisition would broaden Lilly's portfolio of treatments for autoimmune diseases and obesity, the report said.
Trading Metrics, Technical Analysis
The Relative Strength Index (RSI) of Ventyx is 60.68.
Looking at its 12-month performance, the stock has surged 315.29%, reflecting strong investor confidence.
Ventyx has a market capitalization of about $717.2 million. Its shares have traded between a 52-week high of $25.00 and a low of $0.78.
The stock is currently about 38.3% of the way from its 52-week low to its high, indicating it is trading closer to the lower end of its annual range.
Price Action: VTYX closed on Tuesday at $10.05, up 28.52%, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings indicate that VTYX has strong momentum in the 99th percentile. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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