ArriVent BioPharma (NASDAQ:AVBP) Price Target Raised to $47.00

ArriVent BioPharma (NASDAQ:AVBP) had its price target raised by equities research analysts at HC Wainwright from $44.00 to $47.00 in a note issued to investors on Monday, Marketbeat reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 59.27% from the company’s previous close.

Several other equities research analysts have also recently commented on AVBP. Citigroup cut their price target on ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Guggenheim reiterated a “buy” rating and issued a $45.00 price objective on shares of ArriVent BioPharma in a research report on Thursday. Truist Financial boosted their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Finally, BTIG Research restated a “buy” rating and issued a $42.00 target price on shares of ArriVent BioPharma in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.86.

ArriVent BioPharma Price Performance

NASDAQ AVBP opened at $29.51 on Monday. The firm has a market cap of $1.37 billion, a P/E ratio of -8.15 and a beta of 1.36. ArriVent BioPharma has a 52-week low of $17.00 and a 52-week high of $35.83. The business’s 50-day moving average price is $31.79 and its 200 day moving average price is $27.86.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, analysts anticipate that ArriVent BioPharma will post -3.96 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in shares of ArriVent BioPharma by 9,747.6% in the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after buying an additional 2,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 438 shares in the last quarter. BNP Paribas Financial Markets raised its position in ArriVent BioPharma by 31.0% in the second 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. Group One Trading LLC acquired a new stake in ArriVent BioPharma in the fourth quarter valued at $57,000. Finally, Quantbot Technologies LP acquired a new stake in ArriVent BioPharma in the second quarter valued at $59,000. 9.48% of the stock is owned by institutional investors and hedge funds.

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.