ArriVent BioPharma (NASDAQ:AVBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ArriVent BioPharma (NASDAQ:AVBP) from a strong sell rating to a sell rating in a research report report published on Sunday morning,Wall Street Zen reports.

A number of other equities analysts have also issued reports on AVBP. Truist Financial cut their target price on ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Thursday, October 15th. 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 report on Wednesday, October 7th. JonesTrading dropped their price target on shares of ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a report on Tuesday, September 22nd. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.67.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $18.85 on Friday. ArriVent BioPharma has a 1 year low of $11.36 and a 1 year high of $35.83. The stock’s 50-day simple moving average is $26.82 and its 200-day simple moving average is $29.05. The firm has a market cap of $929.49 million, a price-to-earnings ratio of -5.21 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly 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). As a group, research analysts predict that ArriVent BioPharma will post -4.08 EPS for the current year.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Montanova Capital LLC boosted its holdings in ArriVent BioPharma by 2.6% in the second 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. bought a new stake in ArriVent BioPharma during the second quarter valued at $136,498,000. BlackRock Inc. acquired a new stake in shares of ArriVent BioPharma during the second quarter worth $112,919,000. General Catalyst Group Management LLC acquired a new stake in shares of ArriVent BioPharma during the second quarter worth $51,929,000. Finally, Vivo Capital LLC acquired a new stake in shares of ArriVent BioPharma during the first quarter worth $20,438,000. 9.48% of the stock is owned by institutional investors.

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.