ArriVent BioPharma (NASDAQ:AVBP) Given New $43.00 Price Target at Citigroup

ArriVent BioPharma (NASDAQ:AVBP) had its target price cut by equities researchers at Citigroup from $45.00 to $43.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 49.12% from the company’s previous close.

Several other brokerages have also weighed in on AVBP. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Monday, April 20th. B. Riley Financial upped their target price on ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Truist Financial raised ArriVent BioPharma to a “strong-buy” rating in a report on Monday, May 4th. BTIG Research began coverage on ArriVent BioPharma in a research report on Thursday, March 12th. They set a “buy” rating and a $42.00 price objective for the company. Finally, HC Wainwright upped their target price on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ArriVent BioPharma currently has an average rating of “Moderate Buy” and an average target price of $42.78.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP traded down $0.14 during midday trading on Wednesday, reaching $28.84. 138,269 shares of the company’s stock were exchanged, compared to its average volume of 486,492. ArriVent BioPharma has a 52-week low of $16.10 and a 52-week high of $32.14. The stock has a market capitalization of $1.34 billion, a PE ratio of -8.33 and a beta of 1.51. The business’s fifty day moving average price is $26.25 and its two-hundred day moving average price is $23.22.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Analysts predict that ArriVent BioPharma will post -3.6 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Several large investors have recently added to or reduced their stakes in AVBP. Dynamic Technology Lab Private Ltd acquired a new stake in ArriVent BioPharma during the 1st quarter valued at $266,000. Woodline Partners LP raised its stake in ArriVent BioPharma by 0.4% during the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after purchasing an additional 576 shares during the period. Jane Street Group LLC acquired a new stake in ArriVent BioPharma during the 1st quarter valued at $189,000. Legal & General Group Plc raised its stake in ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock valued at $322,000 after purchasing an additional 1,197 shares during the period. Finally, Walleye Capital LLC acquired a new stake in ArriVent BioPharma during the 2nd quarter valued at $206,000. 9.48% of the stock is owned by institutional investors and hedge funds.

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.