BTIG Research Upgrades ArriVent BioPharma (NASDAQ:AVBP) to Strong-Buy

ArriVent BioPharma (NASDAQ:AVBP) was upgraded by stock analysts at BTIG Research to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently commented on AVBP. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. HC Wainwright boosted their target price on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Oppenheimer restated an “outperform” rating and issued a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. Citigroup increased their price objective on ArriVent BioPharma from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Cantor Fitzgerald assumed coverage on shares of ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.78.

ArriVent BioPharma Stock Down 0.8%

NASDAQ:AVBP opened at $23.90 on Wednesday. The stock has a fifty day simple moving average of $22.60 and a 200 day simple moving average of $21.09. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.42 and a beta of 0.99. ArriVent BioPharma has a 1-year low of $15.47 and a 1-year high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. Equities analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AVBP. Bessemer Group Inc. acquired a new stake in shares of ArriVent BioPharma in the 3rd quarter valued at $26,000. Russell Investments Group Ltd. increased its position in ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after buying an additional 2,047 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in ArriVent BioPharma by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after buying an additional 438 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in shares of ArriVent BioPharma in the fourth quarter worth about $57,000. 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.