ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $40.00 Average Price Target from Analysts

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average rating of “Moderate Buy” by the twelve research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $40.00.

A number of equities research analysts have recently weighed in on AVBP shares. B. Riley upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, August 25th. Cantor Fitzgerald assumed coverage on shares of ArriVent BioPharma in a research report on Monday. They issued an “overweight” rating on the stock. BTIG Research initiated coverage on shares of ArriVent BioPharma in a research note on Wednesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Wednesday, October 8th. Finally, Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th.

Institutional Trading of ArriVent BioPharma

A number of hedge funds have recently made changes to their positions in AVBP. Squarepoint Ops LLC lifted its holdings in shares of ArriVent BioPharma by 1,009.1% during the second quarter. Squarepoint Ops LLC now owns 204,355 shares of the company’s stock worth $4,449,000 after purchasing an additional 185,929 shares during the period. Infinitum Asset Management LLC increased its holdings in ArriVent BioPharma by 25.7% in the first quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock valued at $38,205,000 after purchasing an additional 422,315 shares during the period. Moody Aldrich Partners LLC acquired a new stake in ArriVent BioPharma in the second quarter valued at $1,558,000. Fund 1 Investments LLC bought a new position in ArriVent BioPharma during the 2nd quarter worth $11,503,000. Finally, Nuveen LLC acquired a new position in ArriVent BioPharma during the 1st quarter worth about $819,000. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock opened at $22.40 on Friday. ArriVent BioPharma has a 52 week low of $15.47 and a 52 week high of $29.71. The stock has a market capitalization of $924.67 million, a P/E ratio of -5.28 and a beta of 0.93. The stock has a fifty day moving average of $20.93 and a 200-day moving average of $20.62.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.05). On average, research analysts forecast that ArriVent BioPharma will post -2.74 earnings per share for the current year.

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. 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.