ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $44.86 Average PT from Brokerages

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average rating of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $44.8571.

AVBP has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. BTIG Research reissued a “buy” rating and set a $42.00 target price on shares of ArriVent BioPharma in a research report on Thursday, August 13th. HC Wainwright boosted their target price on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Guggenheim restated a “buy” rating and set a $45.00 price target on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd.

Hedge Funds Weigh In On ArriVent BioPharma

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in 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 during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $40,000 after purchasing an additional 438 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of ArriVent BioPharma by 31.0% in the second 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. Group One Trading LLC purchased a new position in shares of ArriVent BioPharma in the fourth quarter worth about $57,000. Finally, Quantbot Technologies LP purchased a new position in shares of ArriVent BioPharma in the second quarter worth about $59,000. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Price Performance

Shares of NASDAQ:AVBP opened at $30.17 on Thursday. The business’s 50-day moving average is $31.62 and its 200 day moving average is $28.35. ArriVent BioPharma has a 1 year low of $17.00 and a 1 year high of $35.83. The firm has a market capitalization of $1.49 billion, a P/E ratio of -8.33 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.06). On average, analysts expect that ArriVent BioPharma will post -4.01 EPS 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.