ArriVent BioPharma (NASDAQ:AVBP) Raised to "Strong-Buy" at B. Riley

Key Points

• ArriVent BioPharma was upgraded to a "strong-buy" rating by B. Riley, highlighting positive sentiment among analysts.
• Despite the upgrade, Wall Street Zen downgraded the stock from "hold" to "strong sell," indicating mixed opinions in the market.
• The company's recent quarterly earnings report revealed a loss of ($0.90) per share, which was below analysts' expectations.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) was upgraded by research analysts at B. Riley to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $45.00 price objective on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. HC Wainwright reiterated a "buy" rating and issued a $42.00 price objective (up previously from $40.00) on shares of ArriVent BioPharma in a research note on Tuesday, August 12th. Oppenheimer reiterated an "outperform" rating and issued a $44.00 price objective (up previously from $39.00) on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Finally, Jones Trading assumed coverage on shares of ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $39.14.

ArriVent BioPharma Trading Up 1.2%

Shares of ArriVent BioPharma stock opened at $19.59 on Monday. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37. The firm has a market capitalization of $794.77 million, a price-to-earnings ratio of -4.87 and a beta of 1.17. The firm's 50 day simple moving average is $20.76 and its two-hundred day simple moving average is $21.07.

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

Institutional Trading of ArriVent BioPharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in ArriVent BioPharma by 773.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after buying an additional 1,416 shares during the period. BNP Paribas Financial Markets lifted its holdings in ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock valued at $56,000 after purchasing an additional 609 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in ArriVent BioPharma by 571.6% during the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company's stock valued at $145,000 after purchasing an additional 5,676 shares in the last quarter. Jane Street Group LLC purchased a new position in ArriVent BioPharma during the first quarter valued at $189,000. Finally, Walleye Capital LLC purchased a new position in ArriVent BioPharma during the second quarter valued at $206,000. Institutional investors and hedge funds own 9.48% of the company's stock.

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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