ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $25.67.

A number of research firms have issued reports on AVBP. HC Wainwright reduced their price target on ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating on the stock 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 note on Wednesday, October 7th. B. Riley Financial lowered their price objective on ArriVent BioPharma from $45.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial cut their target price on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Finally, Wall Street Zen raised shares of ArriVent BioPharma from a “strong sell” rating to a “sell” rating in a report on Sunday, October 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Montanova Capital LLC lifted its position in shares of 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 last quarter. Hhlr Advisors LTD. acquired a new position in shares of ArriVent BioPharma during the second quarter worth $136,498,000. BlackRock Inc. purchased a new position in ArriVent BioPharma in the second quarter valued at $112,919,000. General Catalyst Group Management LLC purchased a new position in ArriVent BioPharma in the second quarter valued at $51,929,000. Finally, Vivo Capital LLC purchased a new position in ArriVent BioPharma in the first quarter valued at $20,438,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Stock Up 0.4%

NASDAQ:AVBP opened at $19.20 on Friday. ArriVent BioPharma has a 52 week low of $11.36 and a 52 week high of $35.83. The company has a fifty day simple moving average of $26.36 and a two-hundred day simple moving average of $28.97. The company has a market cap of $946.75 million, a price-to-earnings ratio of -5.30 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data 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, analysts expect that ArriVent BioPharma will post -4.04 EPS for the current year.

About ArriVent BioPharma

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision oncology therapies for patients with genetically defined cancers. The company’s primary focus is on targeted treatments for non-small cell lung cancer (NSCLC), particularly tumors driven by mutations in the epidermal growth factor receptor (EGFR) gene.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible EGFR tyrosine kinase inhibitor designed to target a range of EGFR mutations, including common mutations and exon 20 insertion mutations.