ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.
Several other equities analysts have also recently issued reports on the company. Citigroup dropped their price target on ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. HC Wainwright decreased their price objective on ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. JonesTrading decreased their price objective on ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Jefferies Financial Group set a $18.00 target price on ArriVent BioPharma in a research note on Tuesday, October 6th. Finally, Truist Financial dropped 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, October 6th. Nine research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.
Get Our Latest Analysis on ArriVent BioPharma
ArriVent BioPharma Price Performance
Shares of NASDAQ:AVBP opened at $17.94 on Friday. ArriVent BioPharma has a 1-year low of $11.36 and a 1-year high of $35.83. The stock has a market cap of $884.62 million, a P/E ratio of -4.96 and a beta of 1.34. The firm has a fifty day moving average price of $27.07 and a 200 day moving average price of $29.09.
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). Sell-side analysts expect that ArriVent BioPharma will post -4.05 EPS for the current fiscal year.
Institutional Investors Weigh In On ArriVent BioPharma
A number of institutional investors have recently added to or reduced their stakes in AVBP. Montanova Capital LLC increased its position in ArriVent BioPharma by 2.6% during the 2nd quarter. Montanova Capital LLC now owns 4,515,531 shares of the company’s stock worth $156,870,000 after purchasing an additional 114,448 shares during the period. Hhlr Advisors LTD. acquired a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at approximately $136,498,000. BlackRock Inc. purchased a new stake in shares of ArriVent BioPharma in the second quarter valued at approximately $112,919,000. General Catalyst Group Management LLC purchased a new stake in shares of ArriVent BioPharma in the second quarter valued at approximately $51,929,000. Finally, Vivo Capital LLC purchased a new stake in shares of ArriVent BioPharma in the first quarter valued at approximately $20,438,000. 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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