ArriVent BioPharma (NASDAQ:AVBP) Sets New 12-Month High – Still a Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $34.06 and last traded at $33.12, with a volume of 105705 shares trading hands. The stock had previously closed at $31.74.

Analyst Ratings Changes

Several research firms recently weighed in on AVBP. Oppenheimer restated an “outperform” rating and issued a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. BTIG Research started coverage on ArriVent BioPharma in a report on Thursday, March 12th. They set a “buy” rating and a $42.00 price target on the stock. Truist Financial boosted their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. 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 report on Monday, March 23rd. Finally, Citigroup lowered their target price on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.38.

ArriVent BioPharma Stock Up 2.6%

The company has a 50-day moving average of $29.36 and a 200 day moving average of $25.06. The stock has a market capitalization of $1.52 billion, a PE ratio of -9.39 and a beta of 1.41.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.08). As a group, equities analysts predict that ArriVent BioPharma, Inc. will post -3.9 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in ArriVent BioPharma by 9,747.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after purchasing 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% 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 raised its holdings in 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 acquiring an additional 609 shares in the last quarter. Group One Trading LLC acquired a new stake in shares of ArriVent BioPharma during the 4th quarter valued at approximately $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ArriVent BioPharma by 696.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company’s stock worth $60,000 after purchasing an additional 2,849 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.