ArriVent BioPharma (NASDAQ:AVBP – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a research report issued on Friday, Benzinga reports. They presently have a $29.00 price objective on the stock. BTIG Research’s price objective suggests a potential upside of 74.07% from the company’s previous close.
AVBP has been the subject of a number of other research reports. Guggenheim decreased their price target on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. JonesTrading dropped 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 reduced their price objective on shares of ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Wall Street Zen downgraded shares of ArriVent BioPharma from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ArriVent BioPharma has a consensus rating of “Moderate Buy” and an average target price of $27.44.
View Our Latest Stock Report on ArriVent BioPharma
ArriVent BioPharma Trading Down 0.8%
ArriVent BioPharma stock traded down $0.13 during midday trading on Friday, reaching $16.66. The stock had a trading volume of 1,334,018 shares, compared to its average volume of 678,205. The company has a fifty day moving average price of $27.62 and a two-hundred day moving average price of $29.15. ArriVent BioPharma has a 12 month low of $11.36 and a 12 month high of $35.83. The company has a market capitalization of $821.47 million, a P/E ratio of -4.60 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). On average, equities research analysts predict that ArriVent BioPharma will post -4.05 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ArriVent BioPharma
Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in ArriVent BioPharma during the second quarter valued at $59,000. Glenmede Trust Co. NA purchased a new stake in ArriVent BioPharma in the first quarter worth $209,000. The Manufacturers Life Insurance Company purchased a new stake in ArriVent BioPharma in the first quarter worth $209,000. Jupiter Topco LLC bought a new stake in shares of ArriVent BioPharma in the second quarter valued at $226,000. Finally, Arizona State Retirement System bought a new stake in shares of ArriVent BioPharma in the second quarter valued at $233,000. Hedge funds and other 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 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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