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

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given a consensus rating of “Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $39.00.

AVBP has been the topic of several recent analyst reports. Guggenheim initiated coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a “buy” rating and a $45.00 price objective on the stock. B. Riley started coverage on ArriVent BioPharma in a report on Thursday, March 20th. They set a “buy” rating and a $37.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a research report on Friday, March 7th.

Institutional Trading of ArriVent BioPharma

Hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ArriVent BioPharma in the fourth quarter worth about $31,000. Tower Research Capital LLC TRC increased its stake in ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $43,000 after acquiring an additional 1,416 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of ArriVent BioPharma during the 4th quarter worth approximately $73,000. KLP Kapitalforvaltning AS bought a new position in shares of ArriVent BioPharma during the 4th quarter valued at approximately $83,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of ArriVent BioPharma in the fourth quarter valued at $190,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Down 3.7 %

Shares of AVBP opened at $18.28 on Thursday. The business has a 50-day simple moving average of $24.57 and a two-hundred day simple moving average of $26.56. ArriVent BioPharma has a 52 week low of $14.35 and a 52 week high of $36.37. The stock has a market cap of $621.81 million, a price-to-earnings ratio of -7.11 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.18. On average, equities analysts anticipate 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.