ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $42.78 Average Price Target from Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $43.1250.

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a report on Friday. HC Wainwright boosted their target price on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Citigroup lowered their target price on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Truist Financial upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a report on Monday, May 4th. Finally, B. Riley Financial boosted their target price on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, March 23rd.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors and hedge funds have recently modified their holdings of AVBP. Dynamic Technology Lab Private Ltd acquired a new position in shares of ArriVent BioPharma in the first quarter valued at $266,000. Woodline Partners LP increased its holdings in shares of ArriVent BioPharma by 0.4% in the first 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 last quarter. Jane Street Group LLC acquired a new position in shares of ArriVent BioPharma in the first quarter valued at $189,000. Legal & General Group Plc increased its holdings in shares of ArriVent BioPharma by 8.8% in the second 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 last quarter. Finally, Walleye Capital LLC acquired a new position in shares of ArriVent BioPharma in the second quarter valued at $206,000. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock opened at $26.73 on Tuesday. The company has a market cap of $1.25 billion, a P/E ratio of -7.70 and a beta of 1.51. ArriVent BioPharma has a 1-year low of $16.10 and a 1-year high of $32.14. The company has a fifty day simple moving average of $26.75 and a 200 day simple moving average of $23.77.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results 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 research analysts forecast that ArriVent BioPharma will post -3.78 EPS for the current year.

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.