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

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $40.00.

A number of brokerages recently weighed in on AVBP. Cantor Fitzgerald started coverage on shares of ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Citigroup reduced their target price on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. BTIG Research initiated coverage on ArriVent BioPharma in a research report on Wednesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th.

ArriVent BioPharma Price Performance

AVBP stock opened at $26.56 on Thursday. ArriVent BioPharma has a 1-year low of $15.47 and a 1-year high of $27.22. The business has a 50 day simple moving average of $22.10 and a two-hundred day simple moving average of $20.86. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -6.26 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC raised its holdings in shares of ArriVent BioPharma by 1,009.1% in the second quarter. Squarepoint Ops LLC now owns 204,355 shares of the company’s stock worth $4,449,000 after buying an additional 185,929 shares during the period. Fund 1 Investments LLC purchased a new stake in shares of ArriVent BioPharma during the second quarter valued at $11,503,000. AXQ Capital LP bought a new position in shares of ArriVent BioPharma in the second quarter worth about $277,000. AlphaQuest LLC purchased a new position in ArriVent BioPharma in the 3rd quarter worth about $765,000. Finally, SG Americas Securities LLC lifted its holdings in ArriVent BioPharma by 39.2% during the 4th quarter. SG Americas Securities LLC now owns 51,437 shares of the company’s stock valued at $1,035,000 after buying an additional 14,495 shares in the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

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.