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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.6667.

A number of analysts have issued reports on AVBP shares. BTIG Research began coverage on shares of ArriVent BioPharma in a report on Thursday, March 12th. They issued a “buy” rating and a $42.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Truist Financial upgraded ArriVent BioPharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, B. Riley Financial increased their price target on ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd.

Institutional Trading of ArriVent BioPharma

Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of ArriVent BioPharma in the first quarter worth $266,000. Woodline Partners LP lifted its position in ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after purchasing an additional 576 shares during the period. Jane Street Group LLC bought a new position in shares of ArriVent BioPharma in the first quarter worth about $189,000. Legal & General Group Plc grew its holdings 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 valued at $322,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in ArriVent BioPharma in the 2nd quarter valued at approximately $206,000. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock opened at $21.43 on Monday. The firm has a 50-day moving average of $23.01 and a 200-day moving average of $21.33. The stock has a market cap of $947.21 million, a PE ratio of -4.86 and a beta of 0.98. ArriVent BioPharma has a 52-week low of $15.47 and a 52-week high of $27.22.

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