ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $40.00 Average PT from Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $40.00.

AVBP has been the topic of several recent research reports. Truist Financial initiated coverage on shares of ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 price objective on the stock. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating on the stock. Finally, Citigroup reduced their price target on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently modified their holdings of the company. Suvretta Capital Management LLC increased its holdings in ArriVent BioPharma by 8.5% during the 3rd quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock worth $68,329,000 after acquiring an additional 290,664 shares during the period. Vanguard Group Inc. increased its holdings 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 worth $37,445,000 after purchasing an additional 545,991 shares during the period. Fund 1 Investments LLC raised its position in shares of ArriVent BioPharma by 17.3% in the third quarter. Fund 1 Investments LLC now owns 619,851 shares of the company’s stock worth $11,436,000 after buying an additional 91,456 shares in the last quarter. UBS Group AG raised its position in shares of ArriVent BioPharma by 474.7% in the third quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after buying an additional 411,013 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in ArriVent BioPharma by 102.1% during the third quarter. Woodline Partners LP now owns 296,916 shares of the company’s stock valued at $5,478,000 after buying an additional 150,000 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Trading Down 4.7%

Shares of NASDAQ AVBP opened at $20.86 on Wednesday. The stock has a fifty day simple moving average of $21.65 and a two-hundred day simple moving average of $20.28. ArriVent BioPharma has a 1-year low of $15.47 and a 1-year high of $29.71. The firm has a market cap of $861.10 million, a price-to-earnings ratio of -4.92 and a beta of 1.03.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, November 10th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.05). Analysts forecast that ArriVent BioPharma will post -2.74 EPS for the current year.

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.