ArriVent BioPharma (NASDAQ:AVBP) Posts Earnings Results, Misses Expectations By $0.07 EPS

Key Points

• ArriVent BioPharma reported a quarterly loss of $1.05 per share, missing analysts’ consensus estimate of a $0.98 loss by $0.07.
• Shares rose 0.2% to $31.46, while the company’s market capitalization stood at approximately $1.47 billion; institutional investors owned 9.48% of the stock.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $44.83, despite ratings ranging from Sell to Strong Buy.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) released its earnings results on Wednesday. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.07), FiscalAI reports.

ArriVent BioPharma Trading Up 0.2%

NASDAQ AVBP traded up $0.07 during trading on Wednesday, hitting $31.46. 294,250 shares of the company traded hands, compared to its average volume of 517,888. ArriVent BioPharma has a 12 month low of $16.65 and a 12 month high of $35.83. The business has a fifty day simple moving average of $31.83 and a 200 day simple moving average of $27.72. The company has a market capitalization of $1.47 billion, a P/E ratio of -9.07 and a beta of 1.36.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in ArriVent BioPharma during the fourth quarter valued at approximately $227,000. Invesco Ltd. boosted its holdings in shares of ArriVent BioPharma by 12.5% during the 4th quarter. Invesco Ltd. now owns 16,892 shares of the company's stock worth $340,000 after buying an additional 1,876 shares during the period. XTX Topco Ltd acquired a new position in ArriVent BioPharma in the 4th quarter valued at $528,000. Virtus Investment Advisers LLC grew its stake in ArriVent BioPharma by 126.2% in the 4th quarter. Virtus Investment Advisers LLC now owns 10,894 shares of the company's stock valued at $219,000 after buying an additional 6,078 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in ArriVent BioPharma by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 82,278 shares of the company's stock worth $1,655,000 after acquiring an additional 532 shares during the period. 9.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Truist Financial boosted their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Citigroup dropped their target price on ArriVent BioPharma from $45.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $44.83.

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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.

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