ArriVent BioPharma (NASDAQ:AVBP) Releases Earnings Results, Meets Estimates

ArriVent BioPharma (NASDAQ:AVBP) released its quarterly earnings results on Wednesday. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65), Zacks reports.

ArriVent BioPharma Stock Performance

AVBP stock traded down $0.09 during trading hours on Thursday, reaching $23.86. The stock had a trading volume of 110,115 shares, compared to its average volume of 122,485. ArriVent BioPharma has a fifty-two week low of $14.35 and a fifty-two week high of $25.95. The stock has a 50-day simple moving average of $19.57 and a 200 day simple moving average of $19.16.

Analysts Set New Price Targets

A number of research analysts have commented on AVBP shares. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of ArriVent BioPharma in a research report on Thursday, June 6th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of ArriVent BioPharma in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $30.40.

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.