ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Has Consensus Price Target of $27.44

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.44.

Several equities research analysts recently issued reports on the company. Jefferies Financial Group set a $18.00 price objective on ArriVent BioPharma in a report on Tuesday, October 6th. Citigroup decreased their target price on ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Guggenheim lowered their target price on ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. JonesTrading lowered their target price on ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Thursday.

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $16.66 on Friday. The firm has a market cap of $821.47 million, a price-to-earnings ratio of -4.60 and a beta of 1.34. ArriVent BioPharma has a 52-week low of $11.36 and a 52-week high of $35.83. The business’s 50 day moving average is $27.34 and its two-hundred day moving average is $29.12.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). Analysts anticipate that ArriVent BioPharma will post -4.05 EPS for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Several hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of ArriVent BioPharma in the second quarter valued at approximately $59,000. Glenmede Trust Co. NA acquired a new position in shares of ArriVent BioPharma in the first quarter valued at approximately $209,000. The Manufacturers Life Insurance Company acquired a new position in shares of ArriVent BioPharma in the first quarter valued at approximately $209,000. Jupiter Topco LLC purchased a new stake in ArriVent BioPharma during the 2nd quarter worth approximately $226,000. Finally, Arizona State Retirement System purchased a new stake in ArriVent BioPharma during the 2nd quarter worth approximately $233,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision medicines for patients with genetically defined cancers. The company seeks to identify promising therapies developed in other regions and advance them through clinical development and regulatory approval in the United States and other markets.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor designed to target specific EGFR mutations in non-small cell lung cancer, including EGFR exon 20 insertion mutations.