ArriVent BioPharma (NASDAQ:AVBP) Stock Gets Price Target Trim from JonesTrading

ArriVent BioPharma (NASDAQ:AVBP) had its price objective trimmed by JonesTrading from $45.00 to $22.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on AVBP. HC Wainwright raised their price objective on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the company a “buy” rating in a report on Monday, August 17th. Citigroup reduced their target price on shares of ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Truist Financial decreased their price target on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday. Guggenheim dropped their price target on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Nine investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.44.

ArriVent BioPharma Trading Up 0.1%

ArriVent BioPharma stock opened at $16.73 on Wednesday. The company has a market capitalization of $824.92 million, a PE ratio of -4.62 and a beta of 1.34. ArriVent BioPharma has a 12 month low of $11.36 and a 12 month high of $35.83. The stock has a 50-day moving average price of $28.76 and a two-hundred day moving average price of $29.26.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, analysts predict that ArriVent BioPharma will post -4.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AVBP. Quantbot Technologies LP bought a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at $59,000. Glenmede Trust Co. NA bought a new position in ArriVent BioPharma during the first quarter worth $209,000. The Manufacturers Life Insurance Company acquired a new position in ArriVent BioPharma in the first quarter valued at $209,000. Jupiter Topco LLC acquired a new position in ArriVent BioPharma in the second quarter valued at $226,000. Finally, Arizona State Retirement System bought a new stake in ArriVent BioPharma during the second quarter valued at $233,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

About ArriVent BioPharma

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.