Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) PT at $39.14

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.1429.

Several equities analysts recently issued reports on AVBP shares. Zacks Research cut ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. HC Wainwright restated a “buy” rating and set a $42.00 price objective (up from $40.00) on shares of ArriVent BioPharma in a research note on Tuesday, August 12th. Citigroup reaffirmed a “buy” rating and issued a $33.00 target price (down from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised ArriVent BioPharma to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, July 10th.

ArriVent BioPharma Price Performance

Shares of AVBP opened at $18.73 on Friday. The business’s fifty day moving average price is $19.18 and its 200 day moving average price is $20.34. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37. The stock has a market capitalization of $759.88 million, a PE ratio of -4.66 and a beta of 1.11.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.20). As a group, research analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Large investors have recently added to or reduced their stakes in the stock. Infinitum Asset Management LLC increased its position in ArriVent BioPharma by 25.7% in the first quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock worth $38,205,000 after buying an additional 422,315 shares during the period. Nuveen LLC acquired a new stake in ArriVent BioPharma in the first quarter worth $819,000. Vanguard Group Inc. increased its position in ArriVent BioPharma by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company’s stock worth $27,797,000 after buying an additional 86,067 shares during the period. Moody Aldrich Partners LLC acquired a new stake in ArriVent BioPharma in the second quarter worth $1,558,000. Finally, Wellington Management Group LLP increased its holdings in shares of ArriVent BioPharma by 46.3% during the first quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock valued at $1,134,000 after purchasing an additional 19,427 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.

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.