ArriVent BioPharma (NASDAQ:AVBP) Now Covered by Analysts at Jones Trading

Jones Trading assumed coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note published on Tuesday,Benzinga reports. The firm issued a buy rating and a $40.00 price target on the stock.

A number of other brokerages have also recently weighed in on AVBP. B. Riley initiated coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They issued a “buy” rating and a $37.00 price objective for the company. Guggenheim initiated coverage on ArriVent BioPharma in a research report on Monday, March 10th. They issued a “buy” rating and a $45.00 target price for the company. Finally, HC Wainwright increased their price target on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $39.29.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock opened at $20.86 on Tuesday. ArriVent BioPharma has a one year low of $15.47 and a one year high of $36.37. The company has a market cap of $713.68 million, a price-to-earnings ratio of -5.53 and a beta of 1.47. The business’s 50 day moving average price is $19.17 and its 200 day moving average price is $24.32.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.24). On average, analysts predict that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in ArriVent BioPharma during the fourth quarter worth about $31,000. JPMorgan Chase & Co. increased its stake in shares of ArriVent BioPharma by 183.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock worth $292,000 after purchasing an additional 8,050 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $1,117,000. Barclays PLC lifted its stake in ArriVent BioPharma by 28.8% in the 4th quarter. Barclays PLC now owns 53,499 shares of the company’s stock valued at $1,425,000 after buying an additional 11,977 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in ArriVent BioPharma by 9.1% during the 4th quarter. Rhumbline Advisers now owns 36,690 shares of the company’s stock valued at $977,000 after buying an additional 3,069 shares during the last quarter. 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.