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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $40.00.

Several research analysts have recently weighed in on the stock. BTIG Research started coverage on shares of ArriVent BioPharma in a research note on Wednesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. Truist Financial began coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They issued a “buy” rating and a $43.00 target price on the stock. Cantor Fitzgerald started coverage on ArriVent BioPharma in a report on Monday, December 22nd. They set an “overweight” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Finally, Citigroup lowered their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th.

Hedge Funds Weigh In On ArriVent BioPharma

A number of hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of ArriVent BioPharma during the 4th quarter valued at $227,000. Invesco Ltd. increased its stake in ArriVent BioPharma by 12.5% in the 4th quarter. Invesco Ltd. now owns 16,892 shares of the company’s stock worth $340,000 after buying an additional 1,876 shares in the last quarter. XTX Topco Ltd bought a new stake in ArriVent BioPharma during the fourth quarter valued at about $528,000. Virtus Investment Advisers LLC lifted its position in shares of ArriVent BioPharma by 126.2% in the fourth quarter. Virtus Investment Advisers LLC now owns 10,894 shares of the company’s stock valued at $219,000 after acquiring an additional 6,078 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of ArriVent BioPharma by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock valued at $1,655,000 after acquiring an additional 532 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Trading Up 10.9%

AVBP opened at $26.56 on Thursday. The company’s 50 day moving average is $22.10 and its 200 day moving average is $20.86. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -6.26 and a beta of 0.99. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $27.22.

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.