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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $44.8571.

AVBP has been the topic of several recent analyst reports. HC Wainwright raised their price target on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. BTIG Research restated a “buy” rating and issued a $42.00 target price on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Guggenheim reaffirmed a “buy” rating and set a $45.00 target price on shares of ArriVent BioPharma in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Montanova Capital LLC lifted its stake in ArriVent BioPharma by 2.6% in the second quarter. Montanova Capital LLC now owns 4,515,531 shares of the company’s stock worth $156,870,000 after acquiring an additional 114,448 shares during the period. Infinitum Asset Management LLC increased its position in ArriVent BioPharma by 6.6% during the 4th quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock valued at $82,973,000 after purchasing an additional 255,000 shares during the period. Suvretta Capital Management LLC increased its position in ArriVent BioPharma by 10.9% during the 4th quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock valued at $82,613,000 after purchasing an additional 402,583 shares during the period. Hhlr Advisors LTD. bought a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at about $136,498,000. Finally, BlackRock Inc. bought a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at about $112,919,000. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Performance

AVBP opened at $30.05 on Thursday. The stock’s 50 day moving average price is $31.56 and its 200-day moving average price is $28.46. ArriVent BioPharma has a one year low of $17.00 and a one year high of $35.83. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -8.30 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last announced 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 will post -4.01 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. 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.