ArriVent BioPharma (NASDAQ:AVBP) Upgraded at Zacks Research

Zacks Research upgraded shares of ArriVent BioPharma (NASDAQ:AVBP) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on AVBP. Citigroup restated a “buy” rating and set a $33.00 price objective (down from $40.00) on shares of ArriVent BioPharma in a research note on Tuesday, August 12th. HC Wainwright restated a “buy” rating and set a $42.00 price objective (up from $40.00) on shares of ArriVent BioPharma in a research note on Tuesday, August 12th. Jones Trading initiated coverage on shares of ArriVent BioPharma in a research note on Tuesday, May 20th. They set a “buy” rating and a $40.00 price objective on the stock. Oppenheimer restated 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. Finally, Guggenheim reiterated a “buy” rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $39.14.

ArriVent BioPharma Stock Performance

Shares of AVBP opened at $19.27 on Monday. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $36.37. The company has a market cap of $781.78 million, a price-to-earnings ratio of -4.79 and a beta of 1.17. The firm has a fifty day moving average of $21.13 and a 200-day moving average of $21.33.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20). Analysts predict that ArriVent BioPharma will post -2.74 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in ArriVent BioPharma during the 4th quarter valued at about $218,000. Barclays PLC grew its stake in ArriVent BioPharma by 28.8% during the 4th quarter. Barclays PLC now owns 53,499 shares of the company’s stock valued at $1,425,000 after acquiring an additional 11,977 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ArriVent BioPharma by 8.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock valued at $456,000 after acquiring an additional 1,327 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in ArriVent BioPharma by 773.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after acquiring an additional 1,416 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in ArriVent BioPharma by 561.3% during the 4th quarter. California State Teachers Retirement System now owns 13,649 shares of the company’s stock valued at $364,000 after acquiring an additional 11,585 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.