ArriVent BioPharma (NASDAQ:AVBP) Releases Earnings Results, Misses Expectations By $0.08 EPS

ArriVent BioPharma (NASDAQ:AVBP) posted its earnings results on Monday. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.08), FiscalAI reports.

ArriVent BioPharma Stock Down 1.6%

Shares of AVBP stock traded down $0.46 during trading hours on Monday, hitting $29.04. 212,326 shares of the company’s stock were exchanged, compared to its average volume of 490,475. The firm has a market cap of $1.35 billion, a P/E ratio of -6.59 and a beta of 1.51. The firm has a 50 day moving average of $25.89 and a two-hundred day moving average of $23.01. ArriVent BioPharma has a fifty-two week low of $16.10 and a fifty-two week high of $32.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Truist Financial upgraded ArriVent BioPharma to a “strong-buy” rating in a research report on Monday, May 4th. HC Wainwright boosted their target price on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Citigroup increased their price target on shares of ArriVent BioPharma from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, April 24th. BTIG Research started coverage on shares of ArriVent BioPharma in a report on Thursday, March 12th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, B. Riley Financial upped their price objective on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings 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 valued at $38,000 after purchasing an additional 2,047 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after purchasing an additional 609 shares during the period. Group One Trading LLC acquired a new stake in shares of ArriVent BioPharma in the fourth quarter valued at about $57,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ArriVent BioPharma by 696.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company’s stock valued at $60,000 after purchasing an additional 2,849 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of ArriVent BioPharma by 571.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock valued at $145,000 after purchasing an additional 5,676 shares during the period. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.