ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives Consensus Rating of “Buy” from Brokerages

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have received an average recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $39.1429.

Several equities analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $44.00 price target (up from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. Wall Street Zen cut ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. Zacks Research raised ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Guggenheim reissued a “buy” rating and issued a $45.00 target price on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $42.00 price target (up previously from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $43,000 after buying an additional 1,416 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in ArriVent BioPharma by 31.0% during the 2nd 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 during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 valued at $145,000 after buying an additional 5,676 shares during the period. Jane Street Group LLC bought a new position in shares of ArriVent BioPharma during the 1st quarter valued at $189,000. Finally, Walleye Capital LLC bought a new position in ArriVent BioPharma in the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

Shares of AVBP opened at $18.95 on Thursday. The firm has a market cap of $768.80 million, a PE ratio of -4.71 and a beta of 1.17. The stock’s fifty day moving average price is $19.90 and its two-hundred day moving average price is $20.39. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.20). Sell-side analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

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.