Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $42.78

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $43.1250.

Several research analysts recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. Citigroup reduced their target price on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Monday, April 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a report on Friday. Finally, B. Riley Financial lifted their price objective on ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 23rd.

ArriVent BioPharma Price Performance

Shares of AVBP stock opened at $26.73 on Tuesday. The stock has a market cap of $1.25 billion, a P/E ratio of -7.70 and a beta of 1.51. ArriVent BioPharma has a one year low of $16.10 and a one year high of $32.14. The stock has a fifty day moving average price of $26.70 and a 200 day moving average price of $23.67.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, May 11th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.08). Equities research analysts anticipate that ArriVent BioPharma will post -3.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. bought a new position in shares of ArriVent BioPharma during the third quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ArriVent BioPharma by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after acquiring an additional 438 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after acquiring an additional 2,047 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after acquiring an additional 609 shares during the period. Finally, Group One Trading LLC bought a new position in shares of ArriVent BioPharma during the fourth quarter valued at $57,000. 9.48% of the stock is owned by institutional investors.

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.