ArriVent BioPharma’s (AVBP) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $36.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group raised their target price on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.80.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock opened at $27.21 on Friday. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37. The stock’s 50-day moving average is $28.01 and its 200-day moving average is $23.13.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in ArriVent BioPharma by 154.2% during the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock worth $14,036,000 after acquiring an additional 362,221 shares during the last quarter. Barclays PLC boosted its position in shares of ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company’s stock valued at $976,000 after acquiring an additional 38,132 shares during the period. State Street Corp boosted its position in shares of ArriVent BioPharma by 210.4% in the third quarter. State Street Corp now owns 476,809 shares of the company’s stock valued at $11,205,000 after acquiring an additional 323,186 shares during the period. Suvretta Capital Management LLC grew its stake in shares of ArriVent BioPharma by 7.7% in the third quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock valued at $43,361,000 after acquiring an additional 132,459 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in ArriVent BioPharma by 168.9% during the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock worth $384,000 after acquiring an additional 10,269 shares during the period. 9.48% of the stock is currently owned by institutional investors and hedge funds.

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.