ArriVent BioPharma (NASDAQ:AVBP) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• ArriVent BioPharma was downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating a significant shift in investment sentiment.
• Despite the downgrade, some firms, including Citigroup and Goldman Sachs, maintain "buy" ratings with target prices set at $33.00, while overall consensus holds a "Moderate Buy" rating with a target price of $39.14.
• The company's recent earnings report showed a loss of ($0.90) per share, missing analysts' estimates, and highlighting ongoing challenges in financial performance.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on AVBP. Citigroup restated a "buy" rating and issued a $33.00 target price (down previously from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of ArriVent BioPharma in a report on Wednesday, October 8th. The Goldman Sachs Group upgraded shares of ArriVent BioPharma to a "buy" rating and set a $33.00 target price on the stock in a report on Thursday, July 10th. HC Wainwright restated a "buy" rating and issued a $42.00 target price (up previously from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. Finally, B. Riley upgraded shares of ArriVent BioPharma to a "strong-buy" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.14.

ArriVent BioPharma Price Performance

AVBP stock opened at $20.00 on Monday. The stock has a market capitalization of $811.38 million, a PE ratio of -4.98 and a beta of 1.11. The company's 50-day moving average is $19.07 and its 200-day moving average is $20.14. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $36.37.

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

Institutional Investors Weigh In On ArriVent BioPharma

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of ArriVent BioPharma by 31.0% during the 2nd 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 last quarter. Tower Research Capital LLC TRC increased its stake in shares of ArriVent BioPharma by 571.6% during the 2nd 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 last quarter. Jane Street Group LLC purchased a new stake in shares of ArriVent BioPharma during the 1st quarter worth approximately $189,000. Walleye Capital LLC purchased a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $206,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Company Profile

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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