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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $40.00.

AVBP has been the topic of a number of research reports. Citigroup decreased their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Zacks Research raised shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. BTIG Research initiated coverage on shares of ArriVent BioPharma in a research note on Wednesday, December 10th. They issued a “buy” rating and a $45.00 price target on the stock. Truist Financial started coverage on shares of ArriVent BioPharma in a research note on Tuesday, November 25th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Wednesday, January 21st.

ArriVent BioPharma Stock Up 2.4%

Shares of NASDAQ:AVBP opened at $21.86 on Friday. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $28.12. The stock has a market cap of $902.38 million, a PE ratio of -5.16 and a beta of 1.02. The business has a 50 day moving average of $22.16 and a 200-day moving average of $20.40.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Monday, November 10th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.05). Equities research analysts expect that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ArriVent BioPharma by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after purchasing an additional 438 shares in the last quarter. Woodline Partners LP raised its holdings in shares of ArriVent BioPharma by 0.4% during the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after buying an additional 576 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of ArriVent BioPharma by 31.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock worth $56,000 after buying an additional 609 shares during the last quarter. Legal & General Group Plc lifted its position in shares of ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after buying an additional 1,197 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in ArriVent BioPharma in the third quarter valued at about $26,000. Institutional investors and hedge funds 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.