ArriVent BioPharma (NASDAQ:AVBP) Stock Rating Raised to Sell 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 sent to investors on Sunday morning,Wall Street Zen reports.

AVBP has been the subject of a number of other reports. 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 research note on Wednesday, October 7th. BTIG Research restated a “buy” rating and set a $29.00 target price on shares of ArriVent BioPharma in a research report on Friday. HC Wainwright decreased their target price on shares of ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Truist Financial lowered their price target on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a research report on Tuesday, September 22nd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.44.

ArriVent BioPharma Stock Performance

Shares of AVBP opened at $16.66 on Friday. The company’s fifty day moving average is $27.34 and its 200 day moving average is $29.12. ArriVent BioPharma has a fifty-two week low of $11.36 and a fifty-two week high of $35.83. The stock has a market capitalization of $821.47 million, a PE ratio of -4.60 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly 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). As a group, research analysts forecast that ArriVent BioPharma will post -4.05 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in ArriVent BioPharma in the third quarter worth $2,032,000. Tidal Investments LLC purchased a new position in ArriVent BioPharma during the second quarter worth $1,981,000. Engineers Gate Manager LP bought a new position in ArriVent BioPharma during the second quarter valued at $773,000. Arizona State Retirement System bought a new position in ArriVent BioPharma during the second quarter valued at $233,000. Finally, Montanova Capital LLC increased its position in ArriVent BioPharma by 2.6% during the second quarter. Montanova Capital LLC now owns 4,515,531 shares of the company’s stock valued at $156,870,000 after acquiring an additional 114,448 shares during the last quarter. Hedge funds and other 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.