ArriVent BioPharma (NASDAQ:AVBP) Given Sell (D-) Rating at Weiss Ratings

Key Points

• ArriVent BioPharma (NASDAQ:AVBP) has been given a "sell (D-)" rating by Weiss Ratings, amidst varying opinions from other research firms where B. Riley and others have rated it as a "buy" or "strong-buy".
• The stock experienced a 7.8% increase in trading, reaching $20.82, although it remains far from its 12-month high of $36.37.
• ArriVent BioPharma's recent earnings report showed an earnings per share (EPS) loss of ($0.90), which was below analysts' expectations of ($0.70).

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research firms have also issued reports on AVBP. B. Riley raised ArriVent BioPharma to a "strong-buy" rating in a research report on Monday, August 25th. Guggenheim restated a "buy" rating and set a $45.00 price target on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. HC Wainwright reiterated a "buy" rating and set a $42.00 price objective (up from $40.00) on shares of ArriVent BioPharma in a research note on Tuesday, August 12th. Oppenheimer reiterated an "outperform" rating and set a $44.00 price objective (up from $39.00) on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group upgraded ArriVent BioPharma to a "buy" rating and set a $33.00 price target for the company in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.14.

ArriVent BioPharma Stock Up 7.8%

Shares of AVBP stock traded up $1.51 during mid-day trading on Wednesday, reaching $20.82. 433,678 shares of the company's stock traded hands, compared to its average volume of 269,562. ArriVent BioPharma has a 12 month low of $15.47 and a 12 month high of $36.37. The company has a market cap of $844.67 million, a P/E ratio of -5.18 and a beta of 1.11. The company's 50-day moving average price is $18.91 and its 200-day moving average price is $20.08.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.20). Equities analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock worth $56,000 after purchasing an additional 609 shares during the period. Tower Research Capital LLC TRC increased its stake in ArriVent BioPharma by 571.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company's stock worth $145,000 after purchasing an additional 5,676 shares during the period. Jane Street Group LLC purchased a new stake in ArriVent BioPharma in the first quarter worth $189,000. Walleye Capital LLC purchased a new stake in ArriVent BioPharma in the second quarter worth $206,000. Finally, Brevan Howard Capital Management LP purchased a new stake in ArriVent BioPharma in the second quarter worth $209,000. 9.48% of the stock is currently owned by institutional investors.

About ArriVent BioPharma

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.

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