ArriVent BioPharma’s (AVBP) “Buy” Rating Reaffirmed at Guggenheim

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a report released on Thursday,Benzinga reports. They presently have a $45.00 target price on the stock. Guggenheim’s price target indicates a potential upside of 48.96% from the stock’s previous close.

Several other research analysts have also recently commented on the company. Truist Financial raised 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. Citigroup reiterated a “buy” rating on shares of ArriVent BioPharma in a research note on Thursday. BTIG Research restated a “buy” rating and issued a $42.00 price objective on shares of ArriVent BioPharma in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ArriVent BioPharma presently has an average rating of “Moderate Buy” and a consensus target price of $44.86.

ArriVent BioPharma Stock Down 4.0%

ArriVent BioPharma stock traded down $1.25 during trading hours on Thursday, hitting $30.21. The stock had a trading volume of 97,756 shares, compared to its average volume of 515,475. The company has a 50-day moving average of $31.87 and a two-hundred day moving average of $27.77. ArriVent BioPharma has a fifty-two week low of $17.00 and a fifty-two week high of $35.83. The company has a market cap of $1.41 billion, a PE ratio of -8.57 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data 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). As a group, analysts forecast that ArriVent BioPharma will post -3.9 EPS for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors have recently added to or reduced their stakes in AVBP. Quantbot Technologies LP bought a new stake in ArriVent BioPharma during the second quarter worth about $59,000. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 438 shares during the last quarter. Russell Investments Group Ltd. raised 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 acquiring an additional 2,047 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ArriVent BioPharma by 31.0% in 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 acquired a new position in shares of ArriVent BioPharma in the 4th quarter worth approximately $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.