ArriVent BioPharma (NASDAQ:AVBP) Sets New 12-Month High – Still a Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $34.06 and last traded at $33.12, with a volume of 105705 shares. The stock had previously closed at $31.74.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVBP. Citigroup reduced their target price on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Truist Financial increased their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Monday, April 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

ArriVent BioPharma Trading Up 3.2%

The company has a market capitalization of $1.57 billion, a P/E ratio of -9.72 and a beta of 1.41. The firm’s 50 day moving average price is $29.64 and its two-hundred day moving average price is $25.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Analysts anticipate that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Infinitum Asset Management LLC boosted its stake in shares of ArriVent BioPharma by 6.6% during the 4th quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock worth $82,973,000 after buying an additional 255,000 shares during the last quarter. Suvretta Capital Management LLC increased its position in shares of ArriVent BioPharma by 10.9% in the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock valued at $82,613,000 after acquiring an additional 402,583 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 545,991 shares during the last quarter. State Street Corp raised its holdings in ArriVent BioPharma by 6.3% during the fourth quarter. State Street Corp now owns 1,091,980 shares of the company’s stock worth $21,971,000 after acquiring an additional 64,352 shares in the last quarter. Finally, Vivo Capital LLC bought a new stake in ArriVent BioPharma during the first quarter worth about $20,438,000. 9.48% of the stock is owned by institutional investors.

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. 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.