ArriVent BioPharma, Inc. (NASDAQ:AVBP) Given Average Rating of “Moderate Buy” by Brokerages

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $40.00.

Several equities research analysts have recently commented on AVBP shares. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Truist Financial assumed coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 target price for the company. Cantor Fitzgerald initiated coverage on ArriVent BioPharma in a report on Monday. They issued an “overweight” rating on the stock. Citigroup reduced their price target on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, October 8th.

ArriVent BioPharma Trading Down 1.4%

Shares of AVBP stock opened at $21.97 on Friday. ArriVent BioPharma has a twelve month low of $15.47 and a twelve month high of $29.71. The stock has a fifty day simple moving average of $21.09 and a two-hundred day simple moving average of $20.61. The stock has a market capitalization of $906.92 million, a price-to-earnings ratio of -5.18 and a beta of 0.95.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.05). Research analysts predict that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AVBP. Vanguard Group Inc. lifted its position in ArriVent BioPharma by 6.1% during the first quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company’s stock valued at $27,797,000 after acquiring an additional 86,067 shares during the last quarter. Nuveen LLC purchased a new stake in shares of ArriVent BioPharma during the 1st quarter valued at $819,000. Wellington Management Group LLP boosted its position in shares of ArriVent BioPharma by 46.3% in the 1st quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock worth $1,134,000 after purchasing an additional 19,427 shares in the last quarter. Infinitum Asset Management LLC grew its stake in ArriVent BioPharma by 25.7% during the 1st 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 last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in ArriVent BioPharma during the 1st quarter valued at about $266,000. Institutional investors 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.