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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven 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 issued ratings on the stock in the last year is $43.1429.

A number of analysts have recently issued reports on AVBP shares. Truist Financial lifted their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. B. Riley Financial lifted their price objective on ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Citigroup cut their target price on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, BTIG Research began coverage on ArriVent BioPharma in a research note on Thursday, March 12th. They set a “buy” rating and a $42.00 target price for the company.

Institutional Trading of ArriVent BioPharma

Several institutional investors have recently added to or reduced their stakes in the stock. Vivo Capital LLC bought a new position in ArriVent BioPharma during the 1st quarter valued at $20,438,000. AIHC Capital Management Ltd bought a new stake in shares of ArriVent BioPharma in the 4th quarter worth about $12,973,000. Vanguard Group Inc. raised its stake in shares of ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after purchasing an additional 545,991 shares in the last quarter. UBS Group AG lifted its position in shares of ArriVent BioPharma by 474.7% during the third quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after purchasing an additional 411,013 shares during the last quarter. Finally, Suvretta Capital Management LLC lifted its position in shares of ArriVent BioPharma by 10.9% during the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock worth $82,613,000 after purchasing an additional 402,583 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Trading Down 0.9%

Shares of AVBP stock opened at $34.18 on Wednesday. The firm has a fifty day simple moving average of $30.51 and a 200-day simple moving average of $25.93. The company has a market capitalization of $1.59 billion, a PE ratio of -9.85 and a beta of 1.29. ArriVent BioPharma has a twelve month low of $16.10 and a twelve month high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Equities research analysts predict that ArriVent BioPharma will post -3.9 EPS for the current year.

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.