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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.1429.

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, October 8th. Zacks Research lowered shares of ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective (up from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. Citigroup reiterated a “buy” rating and issued a $33.00 target price (down from $40.00) on shares of ArriVent BioPharma in a research note on Tuesday, August 12th. Finally, B. Riley raised shares of ArriVent BioPharma to a “strong-buy” rating in a research report on Monday, August 25th.

Institutional Trading of ArriVent BioPharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVBP. Bessemer Group Inc. acquired a new position in shares of ArriVent BioPharma during the third quarter worth approximately $26,000. BNP Paribas Financial Markets grew its stake in shares of 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 acquiring an additional 609 shares during the last quarter. Tower Research Capital LLC TRC increased its position in ArriVent BioPharma by 571.6% during the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after acquiring an additional 5,676 shares during the period. Walleye Capital LLC bought a new position in ArriVent BioPharma during the second quarter worth $206,000. Finally, Brevan Howard Capital Management LP acquired a new position in ArriVent BioPharma during the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Trading Up 0.3%

AVBP stock opened at $18.39 on Friday. The firm has a market cap of $746.08 million, a PE ratio of -4.57 and a beta of 1.11. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $36.37. The company has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $20.31.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Monday, August 11th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.20). As a group, analysts forecast that ArriVent BioPharma will post -2.74 EPS for the current fiscal 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.