ArriVent BioPharma’s (AVBP) Buy Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report released on Thursday,Benzinga reports. They currently have a $42.00 target price on the stock.

Several other equities research analysts have also recently weighed in on AVBP. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Citigroup reduced their price objective 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. Finally, Truist Financial upped their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.43.

ArriVent BioPharma Price Performance

NASDAQ:AVBP opened at $29.51 on Thursday. ArriVent BioPharma has a 1-year low of $17.00 and a 1-year high of $35.83. The company has a 50-day moving average of $31.79 and a 200 day moving average of $27.83. The firm has a market cap of $1.37 billion, a PE ratio of -8.15 and a beta of 1.36.

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

Institutional Trading of ArriVent BioPharma

A number of institutional investors have recently modified their holdings of the company. Infinitum Asset Management LLC grew its position in shares of ArriVent BioPharma by 6.6% in 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 lifted its position in ArriVent BioPharma by 10.9% during 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. Hhlr Advisors LTD. purchased a new stake in ArriVent BioPharma during the second quarter valued at approximately $136,498,000. BlackRock Inc. purchased a new stake in ArriVent BioPharma during the second quarter valued at approximately $112,919,000. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 545,991 shares in the last quarter. 9.48% of the stock is currently 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.