ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives Consensus Recommendation of “Buy” from Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been assigned a consensus rating of “Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $39.40.

A number of brokerages have weighed in on AVBP. B. Riley began coverage on ArriVent BioPharma in a report on Thursday. They issued a “buy” rating and a $37.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Finally, Guggenheim began coverage on ArriVent BioPharma in a report on Monday, March 10th. They issued a “buy” rating and a $45.00 price objective on the stock.

Institutional Investors Weigh In On ArriVent BioPharma

Several institutional investors have recently modified their holdings of the company. Suvretta Capital Management LLC boosted its stake in shares of ArriVent BioPharma by 21.7% during the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock worth $59,833,000 after acquiring an additional 400,838 shares in the last quarter. FMR LLC boosted its stake in shares of ArriVent BioPharma by 8.7% during the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after acquiring an additional 169,514 shares in the last quarter. Octagon Capital Advisors LP boosted its stake in shares of ArriVent BioPharma by 4.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company’s stock worth $54,862,000 after acquiring an additional 83,000 shares in the last quarter. Infinitum Asset Management LLC purchased a new stake in shares of ArriVent BioPharma during the 4th quarter worth approximately $43,794,000. Finally, Novo Holdings A S boosted its stake in shares of ArriVent BioPharma by 1.0% during the 4th quarter. Novo Holdings A S now owns 1,520,627 shares of the company’s stock worth $40,510,000 after acquiring an additional 15,312 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Performance

Shares of AVBP stock opened at $19.60 on Thursday. The firm has a market cap of $666.71 million, a price-to-earnings ratio of -7.63 and a beta of 1.00. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37. The stock’s 50-day moving average is $25.18 and its two-hundred day moving average is $26.82.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.18. As a group, research analysts predict that ArriVent BioPharma will post -2.74 EPS for the current 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.