ArriVent BioPharma (NASDAQ:AVBP) Stock Price Target Cut by HC Wainwright

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) had its price target cut by investment analysts at HC Wainwright from $47.00 to $27.00 in a report issued on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 59.86% from the stock’s previous close.

AVBP has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Truist Financial cut their target price on ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a research note on Tuesday, September 22nd. Guggenheim lowered their price objective on ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BTIG Research cut their price objective on ArriVent BioPharma from $42.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.44.

Check Out Our Latest Research Report on ArriVent BioPharma

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $16.89 on Thursday. The company has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $29.39. ArriVent BioPharma has a 1 year low of $11.36 and a 1 year high of $35.83. The firm has a market cap of $832.85 million, a PE ratio of -4.67 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, research analysts anticipate that ArriVent BioPharma will post -4.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Tema ETFs LLC bought a new position in shares of ArriVent BioPharma during the 2nd quarter worth approximately $1,981,000. Deutsche Bank AG bought a new stake in shares of ArriVent BioPharma during the second quarter valued at approximately $1,361,000. Dimensional Fund Advisors LP raised its position in shares of ArriVent BioPharma by 758.2% during the first quarter. Dimensional Fund Advisors LP now owns 126,525 shares of the company’s stock worth $2,918,000 after purchasing an additional 111,782 shares during the period. E Fund Management Co. Ltd. bought a new position in shares of ArriVent BioPharma in the 2nd quarter worth $3,798,000. Finally, Bank of America Corp DE lifted its holdings in shares of ArriVent BioPharma by 41.9% in the 1st quarter. Bank of America Corp DE now owns 80,208 shares of the company’s stock worth $1,850,000 after purchasing an additional 23,687 shares in the last quarter. 9.48% of the stock is owned by institutional investors.

Key ArriVent BioPharma News

Here are the key news stories impacting ArriVent BioPharma this week:

  • Positive Sentiment: Despite the trial failure, Citigroup and JonesTrading retained “buy” ratings on ArriVent, lowering their price targets to $20 and $22, respectively. Those targets imply potential upside from the reported share price, although they reflect substantially reduced expectations. Analyst price-target reports
  • Neutral Sentiment: Trading in AVBP was temporarily halted for news pending on October 6, underscoring the significance of the clinical announcement and the resulting volatility. ArriVent FURVENT program update
  • Negative Sentiment: ArriVent reported that the Phase 3 FURVENT trial of firmonertinib in previously untreated EGFR exon 20 insertion-mutant non-small cell lung cancer failed to meet its primary progression-free-survival endpoint. The company is reviewing the program’s future, raising concerns about its lead asset, regulatory prospects and commercial outlook. ArriVent late-stage trial setback
  • Negative Sentiment: Reports indicated that AVBP shares fell roughly 48% to 60% and reached an all-time or one-year low as investors reassessed the company following the trial miss. The decline reflects the loss of confidence in firmonertinib as the central value driver. ArriVent shares plunge after FURVENT failure
  • Negative Sentiment: Levi & Korsinsky, SBS Law and SueWallSt announced investigations or potential securities claims involving ArriVent. These notices do not establish wrongdoing, but they add legal and reputational risk after the sharp selloff and scrutiny of the company’s recent $250 million at-the-market offering. SBS Law ArriVent investigation

ArriVent BioPharma Company Profile

(Get Free Report)

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision medicines for patients with genetically defined cancers. The company seeks to identify promising therapies developed in other regions and advance them through clinical development and regulatory approval in the United States and other markets.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor designed to target specific EGFR mutations in non-small cell lung cancer, including EGFR exon 20 insertion mutations.

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Analyst Recommendations for ArriVent BioPharma (NASDAQ:AVBP)

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