ArriVent BioPharma (NASDAQ:AVBP) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded ArriVent BioPharma’s rating from “strong sell” to “sell,” while analyst sentiment overall remains more positive, with nine Buy ratings, one Hold, and one Sell. The consensus rating is “Moderate Buy,” with an average price target of $27.44.
• AVBP shares opened at $16.66, well below the consensus target, and have traded between $11.36 and $35.83 over the past year. The company reported a quarterly loss of $1.05 per share, missing estimates by $0.06.
• Institutional investors—including Hhlr Advisors, BlackRock, and General Catalyst—recently established sizable positions, but institutions and hedge funds collectively own only 9.48% of the stock. ArriVent is a clinical-stage biotech developing precision cancer medicines, led by its furmonertinib candidate for EGFR-mutated lung cancer.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Sunday, Wall Street Zen reports.

AVBP has been the topic of several other reports. Jefferies Financial Group set a $18.00 target price on shares of ArriVent BioPharma in a report on Tuesday, October 6th. Truist Financial reduced 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. Weiss Ratings reissued a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Thursday. Cantor Fitzgerald restated an "overweight" rating on shares of ArriVent BioPharma in a report on Tuesday, September 22nd. Finally, BTIG Research restated a "buy" rating and set a $29.00 price objective on shares of ArriVent BioPharma in a report on Friday. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.44.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $16.66 on Friday. ArriVent BioPharma has a 52-week low of $11.36 and a 52-week high of $35.83. The stock has a market cap of $821.50 million, a P/E ratio of -4.60 and a beta of 1.34. The firm has a 50 day moving average price of $27.34 and a 200 day moving average price of $29.07.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced 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). Analysts predict that ArriVent BioPharma will post -4.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVBP. Hhlr Advisors LTD. bought a new stake in shares of ArriVent BioPharma during the second quarter worth about $136,498,000. BlackRock Inc. acquired a new position in shares of ArriVent BioPharma in the second quarter valued at approximately $112,919,000. General Catalyst Group Management LLC bought a new position in ArriVent BioPharma in the 2nd quarter valued at approximately $51,929,000. Vivo Capital LLC bought a new position in ArriVent BioPharma in the 1st quarter valued at approximately $20,438,000. Finally, Seven Fleet Capital Management LP raised its holdings in ArriVent BioPharma by 390.7% in the 2nd quarter. Seven Fleet Capital Management LP now owns 246,606 shares of the company's stock valued at $8,567,000 after buying an additional 196,354 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

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.

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