ArriVent BioPharma (NASDAQ:AVBP) Now Covered by Analysts at BTIG Research

BTIG Research began coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $42.00 target price on the stock.

Several other equities analysts have also commented on AVBP. Citigroup raised their target price on shares of ArriVent BioPharma from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, March 6th. Cantor Fitzgerald started coverage on shares of ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating on the stock. Zacks Research raised shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. HC Wainwright boosted their price objective on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ArriVent BioPharma presently has an average rating of “Moderate Buy” and an average price target of $40.78.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP opened at $24.09 on Thursday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -5.46 and a beta of 0.99. ArriVent BioPharma has a fifty-two week low of $15.47 and a fifty-two week high of $27.22. The stock has a fifty day moving average price of $22.54 and a 200-day moving average price of $21.06.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.09. Research analysts predict that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in ArriVent BioPharma in the 4th quarter valued at approximately $227,000. Invesco Ltd. grew its stake in shares of ArriVent BioPharma by 12.5% during the fourth quarter. Invesco Ltd. now owns 16,892 shares of the company’s stock worth $340,000 after buying an additional 1,876 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of ArriVent BioPharma during the fourth quarter worth $528,000. Virtus Investment Advisers LLC increased its holdings in shares of ArriVent BioPharma by 126.2% during the fourth quarter. Virtus Investment Advisers LLC now owns 10,894 shares of the company’s stock worth $219,000 after buying an additional 6,078 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of ArriVent BioPharma by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock worth $1,655,000 after buying an additional 532 shares in the last quarter. 9.48% of the stock is owned by institutional investors.

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.