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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has earned an average recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $39.00.

A number of analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research report on Friday, March 7th. Guggenheim started coverage on ArriVent BioPharma in a research report on Monday, March 10th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, B. Riley assumed coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They set a “buy” rating and a $37.00 target price on the stock.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of ArriVent BioPharma by 153.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock worth $4,756,000 after purchasing an additional 122,641 shares during the period. Geode Capital Management LLC grew its stake in ArriVent BioPharma by 154.2% during the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock worth $14,036,000 after buying an additional 362,221 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ArriVent BioPharma in the 4th quarter valued at $31,000. Barclays PLC lifted its holdings in shares of ArriVent BioPharma by 1,124.8% during the 3rd quarter. Barclays PLC now owns 41,522 shares of the company’s stock valued at $976,000 after acquiring an additional 38,132 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of ArriVent BioPharma by 210.4% during the 3rd quarter. State Street Corp now owns 476,809 shares of the company’s stock valued at $11,205,000 after acquiring an additional 323,186 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

Shares of NASDAQ:AVBP opened at $20.21 on Thursday. The business’s fifty day moving average price is $24.82 and its two-hundred day moving average price is $26.68. The stock has a market cap of $687.46 million, a PE ratio of -7.86 and a beta of 1.00. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. As a group, equities research analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

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.