Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Target Price at $38.86

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.3750.

Several equities research analysts have recently commented on AVBP shares. Zacks Research downgraded ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, October 8th. B. Riley upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, August 25th. Citigroup dropped their price objective on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Truist Financial began coverage on shares of ArriVent BioPharma in a report on Tuesday. They set a “buy” rating and a $43.00 price objective for the company.

ArriVent BioPharma Price Performance

AVBP stock opened at $23.05 on Tuesday. The company’s 50-day moving average is $19.50 and its 200-day moving average is $20.31. The stock has a market capitalization of $951.50 million, a PE ratio of -5.44 and a beta of 1.11. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $30.41.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, November 10th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.05). On average, analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC raised its stake in shares of ArriVent BioPharma by 8.5% in the third 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 during the last quarter. Infinitum Asset Management LLC raised its position in ArriVent BioPharma by 25.7% in the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock valued at $38,205,000 after buying an additional 422,315 shares during the last quarter. Vanguard Group Inc. raised its position in ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after buying an additional 545,991 shares during the last quarter. Fund 1 Investments LLC lifted its stake in ArriVent BioPharma by 17.3% during the 3rd quarter. Fund 1 Investments LLC now owns 619,851 shares of the company’s stock valued at $11,436,000 after acquiring an additional 91,456 shares in the last quarter. Finally, UBS Group AG boosted its holdings in ArriVent BioPharma by 474.7% during the 3rd quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after acquiring an additional 411,013 shares during the last quarter. 9.48% of the stock is owned by institutional investors.

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.