ArriVent BioPharma’s (AVBP) Buy Rating Reaffirmed at BTIG Research

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a report issued on Thursday,Benzinga reports. They presently have a $42.00 target price on the stock. BTIG Research’s price objective would indicate a potential upside of 33.50% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Truist Financial lifted their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Citigroup restated a “buy” rating on shares of ArriVent BioPharma in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

ArriVent BioPharma Trading Up 0.2%

NASDAQ AVBP opened at $31.46 on Thursday. The company has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $27.77. ArriVent BioPharma has a 52 week low of $16.65 and a 52 week high of $35.83. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -9.07 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, equities research analysts expect that ArriVent BioPharma will post -3.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC raised its position in ArriVent BioPharma by 16.7% during the first quarter. Affinity Asset Advisors LLC now owns 175,000 shares of the company’s stock valued at $4,037,000 after buying an additional 25,000 shares during the period. Dimensional Fund Advisors LP boosted its position in ArriVent BioPharma by 758.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 126,525 shares of the company’s stock worth $2,918,000 after acquiring an additional 111,782 shares during the period. Vivo Capital LLC acquired a new stake in ArriVent BioPharma during the 1st quarter worth about $20,438,000. Seven Fleet Capital Management LP purchased a new position in ArriVent BioPharma during the 1st quarter valued at about $1,159,000. Finally, Tema ETFs LLC purchased a new position in ArriVent BioPharma during the 2nd quarter valued at about $1,981,000. 9.48% of the stock is currently owned by hedge funds and other 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.