ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated at Jones Trading

Analysts at Jones Trading assumed coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report released on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Jones Trading’s price objective suggests a potential upside of 95.41% from the company’s previous close.

Several other brokerages have also commented on AVBP. B. Riley assumed coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a “buy” rating and a $37.00 price objective on the stock. HC Wainwright upped their price objective on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Finally, Guggenheim assumed coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $39.29.

ArriVent BioPharma Stock Performance

Shares of AVBP stock opened at $20.47 on Tuesday. The firm’s 50 day moving average price is $19.16 and its 200-day moving average price is $24.29. ArriVent BioPharma has a one year low of $15.47 and a one year high of $36.37. The firm has a market cap of $700.34 million, a P/E ratio of -5.43 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($1.24). As a group, research analysts predict that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in ArriVent BioPharma during the 1st quarter worth approximately $189,000. Woodline Partners LP increased its position in shares of ArriVent BioPharma by 0.4% in 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $266,000. Infinitum Asset Management LLC increased its position in shares of ArriVent BioPharma by 25.7% in the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock valued at $38,205,000 after purchasing an additional 422,315 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of ArriVent BioPharma by 46.3% in the 1st quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock valued at $1,134,000 after purchasing an additional 19,427 shares during the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

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.