Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $44.83

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $44.8333.

Several analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Truist Financial increased their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Finally, Citigroup cut their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 13th.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $31.01 on Friday. The company’s fifty day moving average price is $31.79 and its 200 day moving average price is $27.53. ArriVent BioPharma has a 1 year low of $16.10 and a 1 year high of $35.83. The company has a market capitalization of $1.44 billion, a PE ratio of -8.94 and a beta of 1.36.

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

Institutional Trading of ArriVent BioPharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after purchasing an additional 438 shares during the last quarter. Wellington Management Group LLP boosted 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 worth $1,655,000 after acquiring an additional 532 shares during the last quarter. Woodline Partners LP boosted 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 worth $2,706,000 after acquiring an additional 576 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ArriVent BioPharma by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock valued at $297,000 after acquiring an additional 585 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after acquiring an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.