ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated at BTIG Research

Stock analysts at BTIG Research began coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $42.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 75.73% from the stock’s previous close.

A number of other research firms have also weighed in on AVBP. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. Cantor Fitzgerald started coverage on ArriVent BioPharma in a report on Monday, December 22nd. They issued an “overweight” rating for the company. Citigroup lifted their price target on ArriVent BioPharma from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, March 6th. HC Wainwright boosted their price objective on ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, Truist Financial began coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.78.

ArriVent BioPharma Stock Down 0.8%

Shares of NASDAQ:AVBP opened at $23.90 on Thursday. The firm has a market capitalization of $1.06 billion, a PE ratio of -5.42 and a beta of 0.99. ArriVent BioPharma has a twelve month low of $15.47 and a twelve month high of $27.22. The company has a 50-day moving average price of $22.60 and a two-hundred day moving average price of $21.09.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.09. Analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVBP. Bessemer Group Inc. purchased a new stake in ArriVent BioPharma in the third quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. grew 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 worth $40,000 after buying an additional 438 shares in the last quarter. Russell Investments Group Ltd. grew its stake in ArriVent BioPharma by 9,747.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after buying an additional 2,047 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock worth $56,000 after buying an additional 609 shares during the last quarter. Finally, Group One Trading LLC bought a new position in shares of ArriVent BioPharma in the 4th quarter worth $57,000. 9.48% of the stock is currently owned by institutional investors.

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.