ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $40.00.

Several research analysts have recently issued reports on the company. BTIG Research initiated coverage on ArriVent BioPharma in a research report on Wednesday, December 10th. They issued a “buy” rating and a $45.00 price target on the stock. B. Riley upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a research report on Monday, August 25th. Citigroup dropped their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Truist Financial began coverage on ArriVent BioPharma in a research note on Tuesday, November 25th. They issued a “buy” rating and a $43.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of ArriVent BioPharma by 36.8% in the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after buying an additional 545,991 shares during the period. Fund 1 Investments LLC bought a new stake in ArriVent BioPharma in the 2nd quarter valued at $11,503,000. Infinitum Asset Management LLC boosted its stake in ArriVent BioPharma by 25.7% in the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock worth $38,205,000 after purchasing an additional 422,315 shares during the period. UBS Group AG boosted its stake in ArriVent BioPharma by 474.7% in the 3rd quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after purchasing an additional 411,013 shares during the period. Finally, Suvretta Capital Management LLC grew its holdings in shares of ArriVent BioPharma by 8.5% during the third quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock worth $68,329,000 after buying an additional 290,664 shares in the last quarter. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Trading Up 4.0%

Shares of NASDAQ AVBP opened at $22.01 on Friday. ArriVent BioPharma has a 1-year low of $15.47 and a 1-year high of $29.71. The company has a market cap of $908.57 million, a PE ratio of -5.19 and a beta of 0.95. The company has a 50-day moving average of $20.90 and a two-hundred day moving average of $20.65.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.05). As a group, equities research analysts forecast that ArriVent BioPharma will post -2.74 earnings per share for the current year.

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. 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.