ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) announced its earnings results on Monday. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.08), FiscalAI reports.
ArriVent BioPharma Trading Down 1.6%
AVBP stock traded down $0.46 during trading on Monday, reaching $29.04. 212,326 shares of the stock were exchanged, compared to its average volume of 490,475. The business has a 50 day moving average price of $25.89 and a 200-day moving average price of $23.01. ArriVent BioPharma has a 1 year low of $16.10 and a 1 year high of $32.14. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -6.59 and a beta of 1.51.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AVBP. BTIG Research began coverage on shares of ArriVent BioPharma in a research report on Thursday, March 12th. They issued a “buy” rating and a $42.00 target price on the stock. Truist Financial raised shares of ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, May 4th. Citigroup raised their target price on shares of ArriVent BioPharma from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Monday, April 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.
Hedge Funds Weigh In On ArriVent BioPharma
A number of institutional investors have recently bought and sold shares of AVBP. Russell Investments Group Ltd. raised its stake in ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after purchasing an additional 2,047 shares during the period. BNP Paribas Financial Markets raised its stake in ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock worth $56,000 after purchasing an additional 609 shares during the period. Group One Trading LLC purchased a new position in ArriVent BioPharma during the fourth quarter worth about $57,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ArriVent BioPharma by 696.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company’s stock worth $60,000 after purchasing an additional 2,849 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of ArriVent BioPharma by 571.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock valued at $145,000 after acquiring an additional 5,676 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.
ArriVent BioPharma Company Profile
ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.
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