ArriVent BioPharma (NASDAQ:AVBP) Now Covered by Analysts at B. Riley

B. Riley started coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $37.00 price target on the stock.

A number of other brokerages have also weighed in on AVBP. Guggenheim started coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a “buy” rating and a $45.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Stock Down 0.3 %

NASDAQ:AVBP opened at $19.54 on Thursday. The stock has a market cap of $664.67 million, a PE ratio of -7.60 and a beta of 1.00. The business’s 50-day simple moving average is $25.03 and its two-hundred day simple moving average is $26.77. ArriVent BioPharma has a 52 week low of $14.35 and a 52 week high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. Sell-side analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

A number of large investors have recently made changes to their positions in AVBP. Mirae Asset Global Investments Co. Ltd. purchased a new position in ArriVent BioPharma in the fourth quarter worth about $31,000. Tower Research Capital LLC TRC lifted its stake in shares of ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after purchasing an additional 1,416 shares during the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of ArriVent BioPharma in the 4th quarter worth approximately $73,000. KLP Kapitalforvaltning AS bought a new position in shares of ArriVent BioPharma during the 4th quarter valued at approximately $83,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in ArriVent BioPharma during the 4th quarter valued at $190,000. 9.48% of the stock is currently owned by 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.