ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 6.8% – Here’s Why

by · The Markets Daily

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report) traded down 6.8% during mid-day trading on Monday. The stock traded as low as $13.85 and last traded at $13.8650. Approximately 152,576 shares were traded during mid-day trading, a decline of 79% from the average session volume of 727,984 shares. The stock had previously closed at $14.87.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVBP shares. Wall Street Zen raised shares of ArriVent BioPharma from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Thursday, October 15th. Oppenheimer reissued an “outperform” rating and set a $25.00 price objective on shares of ArriVent BioPharma in a report on Monday, October 26th. B. Riley Financial cut their price objective on ArriVent BioPharma from $45.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Finally, Citigroup decreased their target price on ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned 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 $24.56.

Get Our Latest Report on ArriVent BioPharma

ArriVent BioPharma Stock Performance

The stock’s 50-day simple moving average is $24.75 and its two-hundred day simple moving average is $26.88. The stock has a market cap of $676.29 million, a price-to-earnings ratio of -3.80 and a beta of 1.66.

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last issued its quarterly earnings results 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). As a group, research analysts predict that ArriVent BioPharma, Inc. will post -4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its stake in shares of ArriVent BioPharma by 843.6% in the third quarter. Sterling Capital Management LLC now owns 1,255 shares of the company’s stock worth $38,000 after acquiring an additional 1,122 shares during the last quarter. Quantbot Technologies LP bought a new stake in ArriVent BioPharma in the 2nd quarter valued at $59,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in ArriVent BioPharma in the 3rd quarter valued at $76,000. Glenmede Trust Co. NA acquired a new stake in ArriVent BioPharma in the 1st quarter worth $209,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in ArriVent BioPharma in the 1st quarter worth $209,000. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Company Profile

(Get Free Report)

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.

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