ArriVent BioPharma (NASDAQ:AVBP) Price Target Raised to $45.00

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

AVBP has been the subject of several other reports. Zacks Research raised ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Citigroup upped their price target on ArriVent BioPharma from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Oppenheimer reissued an “outperform” rating and issued a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. Finally, BTIG Research initiated coverage on shares of ArriVent BioPharma in a report on Thursday, March 12th. They set a “buy” rating and a $42.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.67.

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $22.75 on Monday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -5.16 and a beta of 0.99. The company has a 50-day moving average price of $23.00 and a 200-day moving average price of $21.29. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.09. As a group, equities research analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. purchased a new stake in shares of ArriVent BioPharma during the third quarter valued at approximately $26,000. Russell Investments Group Ltd. boosted its position in ArriVent BioPharma by 9,747.6% in the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after purchasing an additional 2,047 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in ArriVent BioPharma by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after purchasing an additional 438 shares during the last quarter. BNP Paribas Financial Markets grew its stake in ArriVent BioPharma by 31.0% in the 2nd 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 period. Finally, Group One Trading LLC bought a new position in ArriVent BioPharma in the 4th quarter valued at $57,000. 9.48% of the stock is owned by institutional investors.

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.