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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $40.00.

A number of equities analysts recently weighed in on AVBP shares. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Cantor Fitzgerald assumed coverage on shares of ArriVent BioPharma in a research report on Monday, December 22nd. They issued an “overweight” rating for the company. Citigroup lowered their price objective on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. BTIG Research began coverage on shares of ArriVent BioPharma in a research note on Wednesday, December 10th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Truist Financial initiated coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVBP. Mirae Asset Global Investments Co. Ltd. raised its stake in ArriVent BioPharma by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after acquiring an additional 438 shares during the period. Woodline Partners LP increased its holdings in shares of ArriVent BioPharma by 0.4% in the first 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. BNP Paribas Financial Markets increased its holdings in shares of ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after purchasing an additional 609 shares during the last quarter. Legal & General Group Plc raised its position in shares of ArriVent BioPharma by 8.8% in the second quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock valued at $322,000 after purchasing an additional 1,197 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in shares of ArriVent BioPharma during the 3rd quarter worth about $26,000. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $21.86 on Friday. The stock has a 50 day moving average price of $22.16 and a 200 day moving average price of $20.40. The stock has a market capitalization of $902.38 million, a PE ratio of -5.16 and a beta of 1.02. ArriVent BioPharma has a 52 week low of $15.47 and a 52 week high of $28.12.

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

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. 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.