ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated at Jones Trading

Analysts at Jones Trading assumed coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $40.00 price target on the stock. Jones Trading’s price objective indicates a potential upside of 99.75% from the company’s previous close.

AVBP has been the topic of a number of other research reports. Guggenheim assumed coverage on shares of ArriVent BioPharma in a report on Monday, March 10th. They issued a “buy” rating and a $45.00 price objective on the stock. B. Riley assumed coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $39.29.

ArriVent BioPharma Trading Up 3.5%

Shares of ArriVent BioPharma stock opened at $20.03 on Tuesday. The company has a fifty day moving average price of $19.18 and a 200 day moving average price of $24.34. ArriVent BioPharma has a twelve month low of $15.47 and a twelve month high of $36.37. The stock has a market cap of $685.12 million, a price-to-earnings ratio of -5.30 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.24). Analysts forecast that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ArriVent BioPharma during the fourth quarter worth about $31,000. JPMorgan Chase & Co. raised its stake in ArriVent BioPharma by 183.2% during the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock worth $292,000 after acquiring an additional 8,050 shares during the period. Wellington Management Group LLP acquired a new stake in ArriVent BioPharma during the fourth quarter worth about $1,117,000. Barclays PLC raised its stake in ArriVent BioPharma by 28.8% during the fourth quarter. Barclays PLC now owns 53,499 shares of the company’s stock worth $1,425,000 after acquiring an additional 11,977 shares during the period. Finally, Rhumbline Advisers raised its stake in ArriVent BioPharma by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company’s stock worth $977,000 after acquiring an additional 3,069 shares during the period. Institutional investors and hedge funds own 9.48% of the company’s stock.

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.