ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Has Average Target Price of $24.56

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $24.89.

AVBP has been the topic of several research reports. Truist Financial lifted their target price on ArriVent BioPharma from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen raised ArriVent BioPharma from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 18th. B. Riley Financial dropped their price target on ArriVent BioPharma from $45.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Jefferies Financial Group set a $18.00 price target on ArriVent BioPharma in a report on Tuesday, October 6th. Finally, HC Wainwright reduced their price objective on ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AVBP. Alps Advisors Inc. increased its position in ArriVent BioPharma by 38.7% during the third quarter. Alps Advisors Inc. now owns 65,315 shares of the company’s stock valued at $1,978,000 after acquiring an additional 18,241 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ArriVent BioPharma in the third quarter valued at $76,000. Profund Advisors LLC lifted its holdings in shares of ArriVent BioPharma by 12.8% in the 3rd quarter. Profund Advisors LLC now owns 14,257 shares of the company’s stock worth $432,000 after acquiring an additional 1,614 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of ArriVent BioPharma by 21.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,997 shares of the company’s stock worth $266,000 after acquiring an additional 1,585 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in shares of ArriVent BioPharma by 4.1% during the 3rd quarter. Moody Aldrich Partners LLC now owns 45,852 shares of the company’s stock worth $1,388,000 after purchasing an additional 1,808 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Performance

AVBP opened at $13.07 on Tuesday. The stock has a market capitalization of $675.98 million, a price-to-earnings ratio of -3.63 and a beta of 1.66. The company has a fifty day moving average of $21.72 and a 200 day moving average of $26.45. ArriVent BioPharma has a fifty-two week low of $11.36 and a fifty-two week high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.24. The company had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.80 million. On average, equities research analysts forecast that ArriVent BioPharma will post -3.81 earnings per share for the current year.

ArriVent BioPharma Company Profile

ArriVent BioPharma is a clinical-stage biopharmaceutical company focused on developing medicines for people with cancer. The company advances therapies intended to address significant unmet medical needs, with an emphasis on treatments that may offer new options for patients with difficult-to-treat tumors. Its lead clinical program is furmonertinib, an oral targeted therapy being studied for non-small cell lung cancer with certain epidermal growth factor receptor (EGFR) mutations, including exon 20 insertion mutations.