ArriVent BioPharma (NASDAQ:AVBP) Stock Rating Upgraded by The Goldman Sachs Group

ArriVent BioPharma (NASDAQ:AVBP) was upgraded by The Goldman Sachs Group to a “buy” rating in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a $33.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 52.57% from the company’s previous close.

Other research analysts have also recently issued reports about the company. B. Riley initiated coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They set a “buy” rating and a $37.00 price objective on the stock. HC Wainwright raised their price objective on ArriVent BioPharma from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Oppenheimer reaffirmed an “outperform” rating and set a $44.00 price objective (up from $39.00) on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Guggenheim reissued a “buy” rating and issued a $45.00 target price on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Finally, Jones Trading assumed coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.29.

ArriVent BioPharma Trading Down 1.8%

Shares of NASDAQ:AVBP opened at $21.63 on Thursday. The stock’s 50-day moving average price is $21.71 and its 200-day moving average price is $22.63. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37. The stock has a market capitalization of $739.96 million, a P/E ratio of -5.74 and a beta of 1.20.

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

Institutional Trading of ArriVent BioPharma

Large investors have recently modified their holdings of the business. Suvretta Capital Management LLC boosted its position in ArriVent BioPharma by 21.7% during the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after acquiring an additional 400,838 shares in the last quarter. Infinitum Asset Management LLC boosted its position in ArriVent BioPharma by 25.7% during the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock valued at $38,205,000 after acquiring an additional 422,315 shares in the last quarter. Octagon Capital Advisors LP boosted its position in ArriVent BioPharma by 4.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company’s stock valued at $54,862,000 after acquiring an additional 83,000 shares in the last quarter. Novo Holdings A S boosted its position in ArriVent BioPharma by 1.0% during the 4th quarter. Novo Holdings A S now owns 1,520,627 shares of the company’s stock valued at $40,510,000 after acquiring an additional 15,312 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in ArriVent BioPharma by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company’s stock valued at $27,797,000 after acquiring an additional 86,067 shares in the last quarter. 9.48% of the stock is owned by institutional investors.

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.