Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) PT at $44.83

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $44.8333.

A number of brokerages have recently commented on AVBP. Citigroup cut their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Truist Financial upped their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th.

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $31.49 on Friday. The company has a 50 day simple moving average of $31.64 and a 200 day simple moving average of $27.40. ArriVent BioPharma has a 1 year low of $16.10 and a 1 year high of $35.83. The firm has a market cap of $1.47 billion, a PE ratio of -9.07 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). As a group, research analysts anticipate that ArriVent BioPharma will post -3.9 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Infinitum Asset Management LLC raised its holdings in ArriVent BioPharma by 6.6% during the 4th quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock worth $82,973,000 after purchasing an additional 255,000 shares during the last quarter. Suvretta Capital Management LLC boosted its stake in shares of ArriVent BioPharma by 10.9% in the 4th quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock valued at $82,613,000 after purchasing an additional 402,583 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after purchasing an additional 545,991 shares during the last quarter. State Street Corp increased its position in shares of ArriVent BioPharma by 6.3% during the fourth quarter. State Street Corp now owns 1,091,980 shares of the company’s stock worth $21,971,000 after buying an additional 64,352 shares during the period. Finally, Vivo Capital LLC acquired a new stake in shares of ArriVent BioPharma during the first quarter worth $20,438,000. Institutional investors and hedge funds 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.