ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Down – Time to Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price gapped down before the market opened on Monday. The stock had previously closed at $21.00, but opened at $18.14. ArriVent BioPharma shares last traded at $15.6320, with a volume of 498,649 shares.

Analyst Ratings Changes

Several analysts have issued reports on the company. JonesTrading dropped their target price on ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. B. Riley Financial reduced their price target on ArriVent BioPharma from $45.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. Citigroup reduced their price target on ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a research note on Tuesday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Thursday, October 15th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.67.

ArriVent BioPharma Trading Down 23.3%

The business’s 50-day moving average price is $26.19 and its 200-day moving average price is $28.94. The stock has a market cap of $794.68 million, a PE ratio of -4.46 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, analysts predict that ArriVent BioPharma, Inc. will post -4.04 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hhlr Advisors LTD. acquired a new stake in ArriVent BioPharma in the 2nd quarter worth approximately $136,498,000. BlackRock Inc. purchased a new stake in ArriVent BioPharma during the 2nd quarter worth approximately $112,919,000. General Catalyst Group Management LLC acquired a new position in ArriVent BioPharma during the 2nd quarter valued at approximately $51,929,000. Vivo Capital LLC acquired a new position in ArriVent BioPharma during the 1st quarter valued at approximately $20,438,000. Finally, Seven Fleet Capital Management LP increased its stake in ArriVent BioPharma by 390.7% during the 2nd quarter. Seven Fleet Capital Management LP now owns 246,606 shares of the company’s stock valued at $8,567,000 after purchasing an additional 196,354 shares in the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision oncology therapies for patients with genetically defined cancers. The company’s primary focus is on targeted treatments for non-small cell lung cancer (NSCLC), particularly tumors driven by mutations in the epidermal growth factor receptor (EGFR) gene.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible EGFR tyrosine kinase inhibitor designed to target a range of EGFR mutations, including common mutations and exon 20 insertion mutations.