ArriVent BioPharma’s (AVBP) “Buy” Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $45.00 target price on the stock.

A number of other analysts have also weighed in on AVBP. Truist Financial upped their target price on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Citigroup decreased their price target on shares of ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Finally, BTIG Research reissued a “buy” rating and issued a $42.00 price objective on shares of ArriVent BioPharma in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.43.

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $29.51 on Thursday. The stock’s 50-day moving average is $31.79 and its two-hundred day moving average is $27.83. ArriVent BioPharma has a 1-year low of $17.00 and a 1-year high of $35.83. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -8.15 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). Equities research analysts anticipate that ArriVent BioPharma will post -3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Hhlr Advisors LTD. acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth about $136,498,000. BlackRock Inc. purchased a new stake in ArriVent BioPharma during the second quarter worth approximately $112,919,000. Vivo Capital LLC acquired a new position in ArriVent BioPharma in the first quarter valued at approximately $20,438,000. AIHC Capital Management Ltd acquired a new position in ArriVent BioPharma in the fourth quarter valued at approximately $12,973,000. Finally, Vanguard Group Inc. increased its stake in ArriVent BioPharma by 36.8% in the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after purchasing an additional 545,991 shares during the last quarter. Hedge funds and other institutional investors 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.