Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $39.00

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $39.00.

Several analysts recently issued reports on the company. Guggenheim assumed coverage on ArriVent BioPharma in a report on Monday, March 10th. They issued a “buy” rating and a $45.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $39.00 target price on shares of ArriVent BioPharma in a research note on Friday, March 7th. Finally, B. Riley began coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They set a “buy” rating and a $37.00 price target on the stock.

Institutional Trading of ArriVent BioPharma

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in ArriVent BioPharma by 154.2% in the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock valued at $14,036,000 after purchasing an additional 362,221 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ArriVent BioPharma in the 4th quarter valued at approximately $31,000. Barclays PLC boosted its stake in shares of ArriVent BioPharma by 1,124.8% during the 3rd quarter. Barclays PLC now owns 41,522 shares of the company’s stock valued at $976,000 after buying an additional 38,132 shares during the last quarter. State Street Corp grew its position in shares of ArriVent BioPharma by 210.4% during the third quarter. State Street Corp now owns 476,809 shares of the company’s stock worth $11,205,000 after buying an additional 323,186 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of ArriVent BioPharma by 183.2% in the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock worth $292,000 after buying an additional 8,050 shares during the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

Shares of NASDAQ:AVBP opened at $18.14 on Monday. The stock has a 50-day simple moving average of $20.97 and a 200-day simple moving average of $25.67. The stock has a market capitalization of $617.05 million, a P/E ratio of -7.06 and a beta of 1.66. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.18. Analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current year.

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.