Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $44.86

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $44.8571.

Several equities research analysts have recently issued reports on AVBP shares. HC Wainwright lifted their target price on ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Truist Financial increased their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Finally, Citigroup decreased their price objective on ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 13th.

Institutional Investors Weigh In On ArriVent BioPharma

Several large investors have recently bought and sold shares of AVBP. Quantbot Technologies LP bought a new position in ArriVent BioPharma during the second quarter valued at $59,000. Glenmede Trust Co. NA purchased a new position in shares of ArriVent BioPharma in the 1st quarter worth $209,000. The Manufacturers Life Insurance Company bought a new stake in shares of ArriVent BioPharma in the 1st quarter worth about $209,000. Jupiter Topco LLC bought a new stake in shares of ArriVent BioPharma in the 2nd quarter worth about $226,000. Finally, Arizona State Retirement System purchased a new stake in shares of ArriVent BioPharma during the 2nd quarter valued at about $233,000. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Performance

Shares of NASDAQ:AVBP opened at $30.30 on Monday. The firm has a fifty day moving average price of $30.12 and a 200 day moving average price of $29.21. ArriVent BioPharma has a fifty-two week low of $17.00 and a fifty-two week high of $35.83. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -8.37 and a beta of 1.35.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, research analysts predict that ArriVent BioPharma will post -4.01 earnings per share for the current year.

About ArriVent BioPharma

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with genetically defined cancers. The company’s strategy is to identify promising therapies that have been developed or clinically validated in other markets and advance them through global development programs.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor. The company is evaluating furmonertinib as a potential treatment for patients with EGFR-mutated non-small cell lung cancer, including tumors with EGFR exon 20 insertion mutations and other EGFR alterations.

ArriVent obtained exclusive development and commercialization rights for furmonertinib outside China through a collaboration with Allist Pharmaceuticals.