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

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $41.6667.

A number of research firms recently weighed in on AVBP. Oppenheimer restated an “outperform” rating and issued a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. Zacks Research raised shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Citigroup upped their price objective on shares of ArriVent BioPharma from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, March 6th. B. Riley Financial increased their price objective on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Finally, BTIG Research assumed coverage on shares of ArriVent BioPharma in a research note on Thursday, March 12th. They set a “buy” rating and a $42.00 target price for the company.

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds have recently bought and sold shares of AVBP. Infinitum Asset Management LLC grew its position in shares of ArriVent BioPharma by 6.6% in the fourth quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock valued at $82,973,000 after purchasing an additional 255,000 shares during the last quarter. Suvretta Capital Management LLC lifted its holdings in ArriVent BioPharma by 10.9% during the 4th quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock worth $82,613,000 after purchasing an additional 402,583 shares during the last quarter. Vanguard Group Inc. lifted its holdings in ArriVent BioPharma by 36.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock worth $37,445,000 after purchasing an additional 545,991 shares during the last quarter. State Street Corp boosted its stake in ArriVent BioPharma by 6.3% in the 4th quarter. State Street Corp now owns 1,091,980 shares of the company’s stock valued at $21,971,000 after purchasing an additional 64,352 shares during the period. Finally, Geode Capital Management LLC boosted its stake in ArriVent BioPharma by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 753,519 shares of the company’s stock valued at $15,164,000 after purchasing an additional 37,231 shares during the period. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock opened at $21.43 on Monday. The stock has a 50-day simple moving average of $23.01 and a 200 day simple moving average of $21.33. The stock has a market capitalization of $947.21 million, a P/E ratio of -4.86 and a beta of 0.98. ArriVent BioPharma has a 52 week low of $15.47 and a 52 week high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data 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. 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.