ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $43.14 Average PT from Brokerages

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

AVBP has been the subject of a number of research reports. Citigroup lowered their price objective on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Truist Financial boosted their price target on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Monday, April 20th. B. Riley Financial boosted their price objective on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd.

ArriVent BioPharma Price Performance

AVBP stock opened at $32.54 on Wednesday. The company has a market capitalization of $1.52 billion, a PE ratio of -9.38 and a beta of 1.29. ArriVent BioPharma has a 12 month low of $16.10 and a 12 month high of $35.83. The firm’s 50-day moving average is $30.82 and its 200 day moving average is $26.33.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVBP. Suvretta Capital Management LLC boosted its stake in ArriVent BioPharma by 8.5% in the 3rd quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock worth $68,329,000 after purchasing an additional 290,664 shares in the last quarter. Anson Funds Management LP acquired a new position in ArriVent BioPharma during the 3rd quarter valued at approximately $1,843,000. Tema Etfs LLC acquired a new position in ArriVent BioPharma during the 4th quarter valued at approximately $644,000. AIHC Capital Management Ltd purchased a new position in shares of ArriVent BioPharma in the fourth quarter worth $12,973,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ArriVent BioPharma by 45.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,743 shares of the company’s stock valued at $95,000 after acquiring an additional 1,485 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.

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.