ArriVent BioPharma (NASDAQ:AVBP) Price Target Lowered to $43.00 at Citigroup

ArriVent BioPharma (NASDAQ:AVBP) had its price objective lowered by Citigroup from $45.00 to $43.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on AVBP. BTIG Research assumed coverage on shares of ArriVent BioPharma in a research report on Thursday, March 12th. They set a “buy” rating and a $42.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. B. Riley Financial upped their price target 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. HC Wainwright upped their price target on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.78.

ArriVent BioPharma Stock Down 0.1%

AVBP opened at $28.93 on Wednesday. The stock has a market cap of $1.35 billion, a PE ratio of -8.34 and a beta of 1.51. ArriVent BioPharma has a 52 week low of $16.10 and a 52 week high of $32.14. The business’s fifty day simple moving average is $26.37 and its 200 day simple moving average is $23.29.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, May 11th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). As a group, equities analysts anticipate that ArriVent BioPharma will post -3.6 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Large investors have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC boosted its holdings in ArriVent BioPharma by 8.5% in the third quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock valued at $68,329,000 after acquiring an additional 290,664 shares in the last quarter. Anson Funds Management LP purchased a new stake in ArriVent BioPharma in the third quarter worth about $1,843,000. Tema Etfs LLC purchased a new stake in ArriVent BioPharma in the fourth quarter worth about $644,000. AlphaQuest LLC purchased a new stake in ArriVent BioPharma in the third quarter worth about $765,000. Finally, Corient IA LLC purchased a new stake in ArriVent BioPharma in the third quarter worth about $618,000. 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.