ArriVent BioPharma (NASDAQ:AVBP) Posts Earnings Results, Beats Expectations By $0.09 EPS

ArriVent BioPharma (NASDAQ:AVBP) posted its earnings results on Thursday. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.09, FiscalAI reports.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock traded down $1.31 on Thursday, reaching $25.25. 598,140 shares of the company were exchanged, compared to its average volume of 460,578. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -5.96 and a beta of 0.99. ArriVent BioPharma has a 1-year low of $15.47 and a 1-year high of $27.22. The company’s 50-day moving average is $22.10 and its two-hundred day moving average is $20.86.

Analysts Set New Price Targets

AVBP has been the subject of a number of analyst reports. BTIG Research assumed coverage on shares of ArriVent BioPharma in a research report on Wednesday, December 10th. They issued a “buy” rating and a $45.00 price objective for the company. Truist Financial started coverage on shares of ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Cantor Fitzgerald began coverage on ArriVent BioPharma in a research note on Monday, December 22nd. They issued an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVBP. Dynamic Technology Lab Private Ltd bought a new position in ArriVent BioPharma in the 1st quarter worth approximately $266,000. Woodline Partners LP grew its stake in shares of ArriVent BioPharma by 0.4% in the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after purchasing an additional 576 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of ArriVent BioPharma during the first quarter valued at $189,000. Legal & General Group Plc raised its stake in shares of ArriVent BioPharma by 8.8% during the second quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock valued at $322,000 after purchasing an additional 1,197 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of ArriVent BioPharma during the second quarter valued at about $206,000. 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. 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.