ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $40.00.

A number of research firms recently commented on AVBP. Truist Financial began coverage on shares of ArriVent BioPharma in a research note on Tuesday, November 25th. They issued a “buy” rating and a $43.00 target price for the company. Citigroup lowered their price objective on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. BTIG Research began coverage on shares of ArriVent BioPharma in a report on Wednesday, December 10th. They set a “buy” rating and a $45.00 price objective on the stock. Cantor Fitzgerald started coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They issued an “overweight” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st.

ArriVent BioPharma Price Performance

Shares of NASDAQ:AVBP opened at $22.42 on Friday. The business’s 50-day moving average is $22.08 and its 200 day moving average is $20.41. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $28.12. The firm has a market capitalization of $925.50 million, a P/E ratio of -5.29 and a beta of 1.02.

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

Hedge Funds Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after buying an additional 438 shares during the last quarter. Woodline Partners LP raised its holdings in shares of ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after purchasing an additional 576 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in ArriVent BioPharma by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock valued at $297,000 after purchasing an additional 585 shares during the period. BNP Paribas Financial Markets lifted its position in ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after purchasing an additional 609 shares during the period. Finally, Legal & General Group Plc boosted its holdings in ArriVent BioPharma by 8.8% in the second quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock valued at $322,000 after purchasing an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.