Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Target Price at $39.00

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given a consensus rating of “Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $39.17.

Several research firms recently weighed in on AVBP. Guggenheim began coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They issued a “buy” rating and a $45.00 target price for the company. B. Riley began coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They issued a “buy” rating and a $37.00 target price for the company. Finally, HC Wainwright increased their target price on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVBP. Barclays PLC raised its position in ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company’s stock worth $976,000 after purchasing an additional 38,132 shares in the last quarter. JPMorgan Chase & Co. raised its position in ArriVent BioPharma by 183.2% in the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock worth $292,000 after purchasing an additional 8,050 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in ArriVent BioPharma in the fourth quarter worth about $190,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in ArriVent BioPharma in the fourth quarter worth about $31,000. Finally, Rhumbline Advisers raised its position in ArriVent BioPharma by 9.1% in the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company’s stock worth $977,000 after purchasing an additional 3,069 shares in the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

AVBP stock opened at $19.24 on Friday. ArriVent BioPharma has a 52-week low of $15.47 and a 52-week high of $36.37. The company has a 50-day moving average of $19.31 and a two-hundred day moving average of $24.59. The stock has a market capitalization of $658.26 million, a price-to-earnings ratio of -5.10 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($1.24). Equities analysts expect that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

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.