Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report) dropped 6.8% during trading on Monday. The company traded as low as $13.85 and last traded at $13.8650. Approximately 152,576 shares changed hands during trading, a decline of 79% from the average daily volume of 727,984 shares. The stock had previously closed at $14.87.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $29.00 price objective on shares of ArriVent BioPharma in a report on Friday, October 16th. JonesTrading lowered their price objective on shares of ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. HC Wainwright dropped their target price on ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. B. Riley Financial cut their target price on ArriVent BioPharma from $45.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. Finally, Jefferies Financial Group set a $18.00 price target on ArriVent BioPharma in a research note on Tuesday, October 6th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.56.
Check Out Our Latest Analysis on AVBP
ArriVent BioPharma Trading Up 3.6%
The company’s 50-day moving average price is $24.13 and its two-hundred day moving average price is $26.79. The company has a market cap of $665.19 million, a P/E ratio of -3.73 and a beta of 1.66.
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). Equities analysts forecast that ArriVent BioPharma, Inc. will post -4.04 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its holdings in shares of ArriVent BioPharma by 843.6% during the third quarter. Sterling Capital Management LLC now owns 1,255 shares of the company’s stock valued at $38,000 after purchasing an additional 1,122 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in ArriVent BioPharma by 21.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,997 shares of the company’s stock worth $266,000 after purchasing an additional 1,585 shares in the last quarter. Profund Advisors LLC increased its stake in ArriVent BioPharma by 12.8% in the 3rd quarter. Profund Advisors LLC now owns 14,257 shares of the company’s stock worth $432,000 after purchasing an additional 1,614 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of ArriVent BioPharma in the second quarter worth about $59,000. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of ArriVent BioPharma by 4.1% in the third quarter. Moody Aldrich Partners LLC now owns 45,852 shares of the company’s stock worth $1,388,000 after buying an additional 1,808 shares during the period. Institutional investors own 9.48% of the company’s stock.
ArriVent BioPharma Company Profile
ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision oncology therapies for patients with genetically defined cancers. The company’s primary focus is on targeted treatments for non-small cell lung cancer (NSCLC), particularly tumors driven by mutations in the epidermal growth factor receptor (EGFR) gene.
ArriVent’s lead product candidate is furmonertinib, an oral, irreversible EGFR tyrosine kinase inhibitor designed to target a range of EGFR mutations, including common mutations and exon 20 insertion mutations.
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