ArriVent BioPharma (NASDAQ:AVBP) Announces Earnings Results

by · The Markets Daily

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) posted its earnings results on Wednesday. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.07), FiscalAI reports.

ArriVent BioPharma Trading Up 0.2%

NASDAQ:AVBP traded up $0.07 on Wednesday, reaching $31.46. The stock had a trading volume of 294,251 shares, compared to its average volume of 518,382. The company has a 50-day moving average of $31.83 and a 200 day moving average of $27.72. The stock has a market cap of $1.47 billion, a P/E 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.

Analyst Ratings Changes

A number of research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Citigroup reduced their price target on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Truist Financial upped their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.83.

Check Out Our Latest Stock Report on ArriVent BioPharma

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVBP. Wellington Management Group LLP boosted its stake in ArriVent BioPharma by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock valued at $1,655,000 after acquiring an additional 532 shares during the last quarter. Woodline Partners LP grew its position in shares of ArriVent BioPharma by 0.4% in the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after acquiring an additional 576 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of ArriVent BioPharma by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock worth $297,000 after acquiring an additional 585 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after acquiring an additional 609 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of ArriVent BioPharma by 8.8% in the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock valued at $322,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

(Get Free Report)

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.

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