ArriVent BioPharma (NASDAQ:AVBP) Price Target Raised to $45.00 at B. Riley Financial

ArriVent BioPharma (NASDAQ:AVBP) had its target price hoisted by B. Riley Financial from $37.00 to $45.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald assumed coverage on shares of ArriVent BioPharma in a research note on Monday, December 22nd. They set an “overweight” rating on the stock. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. BTIG Research began coverage on ArriVent BioPharma in a report on Thursday, March 12th. They issued a “buy” rating and a $42.00 price target for the company. Truist Financial began coverage on ArriVent BioPharma in a research report on Tuesday, November 25th. They set a “buy” rating and a $43.00 price target on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.67.

ArriVent BioPharma Price Performance

AVBP opened at $22.18 on Monday. The firm has a fifty day moving average price of $22.99 and a 200 day moving average price of $21.27. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $27.22. The stock has a market cap of $980.36 million, a P/E ratio of -5.03 and a beta of 0.98.

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

Institutional Trading of ArriVent BioPharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new position in shares of ArriVent BioPharma during the 3rd quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 during the last quarter. Russell Investments Group Ltd. boosted its holdings 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 during the last quarter. BNP Paribas Financial Markets increased its stake in ArriVent BioPharma by 31.0% during 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 in the last quarter. Finally, Group One Trading LLC acquired a new position in shares of ArriVent BioPharma during the fourth quarter valued at approximately $57,000. 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. 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.