JonesTrading Cuts ArriVent BioPharma (NASDAQ:AVBP) Price Target to $22.00

Key Points

• JonesTrading cut ArriVent BioPharma’s price target from $45 to $22 while maintaining a “buy” rating, implying 28.46% upside from the previous close.
• Other analysts also lowered their targets, but overall sentiment remains favorable: nine analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and $31.89 average price target.
• AVBP traded at $17.13 and remains well below its 50-day and 200-day moving averages; the company also missed quarterly EPS estimates and faces significant pressure after its lead drug’s Phase 3 trial failed to meet its primary endpoint.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) had its price objective lowered by JonesTrading from $45.00 to $22.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. JonesTrading's target price indicates a potential upside of 28.46% from the company's previous close.

AVBP has been the subject of a number of other research reports. Truist Financial lowered their price target on ArriVent BioPharma from $45.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday. Citigroup reduced their price objective on ArriVent BioPharma from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Guggenheim reduced their price objective on ArriVent BioPharma from $45.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. BTIG Research decreased their target price on ArriVent BioPharma from $42.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Jefferies Financial Group set a $18.00 target price on ArriVent BioPharma in a research report on Tuesday. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ArriVent BioPharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.89.

ArriVent BioPharma Price Performance

ArriVent BioPharma stock traded up $2.04 during mid-day trading on Wednesday, reaching $17.13. 2,644,426 shares of the company traded hands, compared to its average volume of 636,434. The firm's fifty day moving average is $29.57 and its two-hundred day moving average is $29.43. The company has a market capitalization of $844.45 million, a price-to-earnings ratio of -4.71 and a beta of 1.34. ArriVent BioPharma has a fifty-two week low of $11.36 and a fifty-two week high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, equities research analysts predict that ArriVent BioPharma will post -4.11 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in ArriVent BioPharma during the second quarter worth about $59,000. Glenmede Trust Co. NA purchased a new stake in ArriVent BioPharma in the 1st quarter worth approximately $209,000. The Manufacturers Life Insurance Company purchased a new stake in ArriVent BioPharma in the 1st quarter worth approximately $209,000. Jupiter Topco LLC acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $226,000. Finally, Arizona State Retirement System acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $233,000. Institutional investors and hedge funds own 9.48% of the company's stock.

Trending Headlines about ArriVent BioPharma

Here are the key news stories impacting ArriVent BioPharma this week:

• Neutral Sentiment: Trading in AVBP was temporarily halted pending news before the company released its clinical-trial update, reflecting the expected market sensitivity of the announcement.
• Negative Sentiment: ArriVent reported that the Phase 3 FURVENT trial of firmonertinib in previously untreated patients with EGFR exon 20 insertion-mutated non-small cell lung cancer failed to meet its primary endpoint of progression-free survival, as assessed by blinded independent central review. ArriVent FURVENT Phase 3 program update
• Negative Sentiment: The trial failure affects ArriVent’s lead asset and significantly weakens the near-term investment case. Analysts and industry coverage characterized the outcome as a late-stage setback, with the company reviewing its future plans for firmonertinib. ArriVent reviews firmonertinib plans
• Negative Sentiment: Reports described a roughly 58%–60% collapse in the stock following the failed primary endpoint, while the shares approached a new one-year low. The reaction reflects reduced expectations for firmonertinib’s approval and commercial potential. ArriVent shares plunge on FURVENT failure
• Negative Sentiment: Levi & Korsinsky announced a potential investor investigation after the trial failure. The notice highlighted shareholder losses and noted that ArriVent had launched a $250 million at-the-market stock offering approximately five months earlier, adding potential litigation and dilution concerns. ArriVent investor investigation notice

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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