Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $43.38

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $43.3750.

AVBP has been the subject of a number of research reports. HC Wainwright increased their price target on ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Citigroup decreased their price target on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. B. Riley Financial increased their price target on ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. BTIG Research initiated coverage on ArriVent BioPharma in a research note on Thursday, March 12th. They set a “buy” rating and a $42.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Monday, April 20th.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $31.74 on Friday. The stock has a fifty day moving average price of $29.36 and a two-hundred day moving average price of $25.04. The firm has a market cap of $1.48 billion, a P/E ratio of -9.15 and a beta of 1.41. ArriVent BioPharma has a 1 year low of $16.10 and a 1 year high of $33.62.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). On average, research analysts predict that ArriVent BioPharma will post -3.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new stake in shares of ArriVent BioPharma during the 3rd quarter worth $26,000. Russell Investments Group Ltd. boosted its stake in shares of ArriVent BioPharma by 9,747.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after acquiring an additional 2,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after acquiring an additional 438 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 acquiring an additional 609 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in shares of ArriVent BioPharma during the 4th quarter worth $57,000. 9.48% of the stock is 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.