ArriVent BioPharma (NASDAQ:AVBP) Shares Climb 4.8% – Should You Buy?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) traded up 4.8% during mid-day trading on Monday. The stock traded as high as $17.30 and last traded at $17.4670. 28,683 shares were traded during trading, a decline of 96% from the average session volume of 674,928 shares. The stock had previously closed at $16.66.

Analyst Upgrades and Downgrades

AVBP has been the topic of a number of recent analyst reports. JonesTrading reduced their price target on shares of ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Citigroup dropped their price objective on shares of ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. BTIG Research reiterated a “buy” rating and issued a $29.00 target price on shares of ArriVent BioPharma in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Thursday. Finally, HC Wainwright cut 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. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ArriVent BioPharma has a consensus rating of “Moderate Buy” and an average price target of $27.44.

ArriVent BioPharma Stock Performance

The stock has a market cap of $861.46 million, a price-to-earnings ratio of -4.82 and a beta of 1.34. The firm’s 50-day simple moving average is $27.34 and its two-hundred day simple moving average is $29.12.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). Equities research analysts expect that ArriVent BioPharma, Inc. will post -4.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Hhlr Advisors LTD. acquired a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at $136,498,000. BlackRock Inc. acquired a new position in shares of ArriVent BioPharma during the second quarter valued at $112,919,000. General Catalyst Group Management LLC acquired a new position in shares of ArriVent BioPharma during the second quarter valued at $51,929,000. Vivo Capital LLC bought a new position in ArriVent BioPharma in the first quarter valued at about $20,438,000. Finally, Seven Fleet Capital Management LP boosted its holdings in ArriVent BioPharma by 390.7% in the second quarter. Seven Fleet Capital Management LP now owns 246,606 shares of the company’s stock valued at $8,567,000 after acquiring an additional 196,354 shares during the last quarter. 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.