ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Has Average Price Target of $27.44 According to Brokerages

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.67.

AVBP has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Tuesday, September 22nd. B. Riley Financial lowered their price objective on shares of ArriVent BioPharma from $45.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group set a $18.00 price objective on shares of ArriVent BioPharma in a research note on Tuesday, October 6th. BTIG Research restated a “buy” rating and set a $29.00 price objective on shares of ArriVent BioPharma in a research report on Friday, October 16th. Finally, JonesTrading cut their price target on shares of ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, October 7th.

ArriVent BioPharma Stock Up 5.1%

AVBP stock opened at $18.85 on Friday. The business has a 50 day moving average price of $26.82 and a 200 day moving average price of $29.05. The stock has a market cap of $929.49 million, a price-to-earnings ratio of -5.21 and a beta of 1.34. ArriVent BioPharma has a fifty-two week low of $11.36 and a fifty-two week high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, sell-side analysts anticipate that ArriVent BioPharma will post -4.08 EPS for the current year.

Institutional Inflows and Outflows

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

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision medicines for patients with genetically defined cancers. The company seeks to identify promising therapies developed in other regions and advance them through clinical development and regulatory approval in the United States and other markets.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor designed to target specific EGFR mutations in non-small cell lung cancer, including EGFR exon 20 insertion mutations.