ArriVent BioPharma (NASDAQ:AVBP) Issues Earnings Results

ArriVent BioPharma (NASDAQ:AVBP) issued its quarterly earnings data on Wednesday. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06), FiscalAI reports.

ArriVent BioPharma Stock Up 0.2%

Shares of AVBP stock opened at $31.46 on Thursday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -9.07 and a beta of 1.36. ArriVent BioPharma has a 12 month low of $16.65 and a 12 month high of $35.83. The stock has a 50-day moving average price of $31.87 and a 200 day moving average price of $27.77.

Analysts Set New Price Targets

AVBP has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Citigroup reissued a “buy” rating on shares of ArriVent BioPharma in a report on Thursday. BTIG Research reissued a “buy” rating and issued a $42.00 price target on shares of ArriVent BioPharma in a report on Thursday. Truist Financial boosted their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Seven investment 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. Based on data from MarketBeat.com, ArriVent BioPharma presently has an average rating of “Moderate Buy” and a consensus price target of $44.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in shares of ArriVent BioPharma by 9,747.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after buying an additional 2,047 shares during the period. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 609 shares during the period. Group One Trading LLC bought a new position in ArriVent BioPharma in the fourth quarter valued at approximately $57,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 acquiring an additional 2,849 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in ArriVent BioPharma by 571.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after acquiring an additional 5,676 shares during the period. Institutional investors own 9.48% of the company’s stock.

About ArriVent BioPharma

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.