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

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $43.3750.

Several equities research analysts have recently issued reports on AVBP shares. Oppenheimer reaffirmed 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 dropped their price objective on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. B. Riley Financial lifted their price objective on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. HC Wainwright raised their price target on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Monday, April 20th.

Institutional Trading of ArriVent BioPharma

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. bought a new stake in ArriVent BioPharma in the third quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. lifted its position in ArriVent BioPharma by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after buying an additional 438 shares during the last quarter. Russell Investments Group Ltd. lifted its position in ArriVent BioPharma by 9,747.6% in 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. BNP Paribas Financial Markets lifted its position in ArriVent BioPharma by 31.0% in the second 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. Finally, Group One Trading LLC bought a new stake in ArriVent BioPharma in the fourth quarter worth $57,000. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Trading Up 1.1%

NASDAQ AVBP opened at $30.54 on Friday. The stock’s 50 day moving average is $28.76 and its 200 day moving average is $24.75. ArriVent BioPharma has a 12 month low of $16.10 and a 12 month high of $33.62. The stock has a market cap of $1.42 billion, a PE ratio of -8.80 and a beta of 1.41.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). On average, analysts forecast that ArriVent BioPharma will post -3.78 EPS 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.