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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $43.00.

Several analysts have recently issued reports on AVBP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Monday, April 20th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. BTIG Research started coverage on shares of ArriVent BioPharma in a research note on Thursday, March 12th. They issued a “buy” rating and a $42.00 target price for the company. HC Wainwright upped their target price on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, B. Riley Financial upped their target price 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.

ArriVent BioPharma Price Performance

NASDAQ AVBP opened at $31.09 on Friday. ArriVent BioPharma has a 1 year low of $16.10 and a 1 year high of $32.14. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -7.05 and a beta of 0.85. The company has a fifty day moving average price of $25.52 and a 200-day moving average price of $22.77.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.09. On average, research analysts anticipate that ArriVent BioPharma will post -3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in ArriVent BioPharma by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after buying an additional 438 shares during the period. Wellington Management Group LLP grew its position in ArriVent BioPharma by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock valued at $1,655,000 after buying an additional 532 shares during the period. Woodline Partners LP grew its position in ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after buying an additional 576 shares during the period. Dimensional Fund Advisors LP grew its position in ArriVent BioPharma by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock valued at $297,000 after buying an additional 585 shares during the period. Finally, BNP Paribas Financial Markets grew its position in ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares during the period. Institutional investors own 9.48% of the company’s stock.

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.