Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $41.67

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $41.6667.

Several analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Truist Financial upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Zacks Research raised shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Oppenheimer reissued an “outperform” rating and issued a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. Finally, BTIG Research initiated coverage on ArriVent BioPharma in a research note on Thursday, March 12th. They issued a “buy” rating and a $42.00 target price for the company.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock opened at $24.22 on Monday. The stock has a market cap of $1.07 billion, a PE ratio of -5.49 and a beta of 0.84. The stock has a 50-day moving average of $23.05 and a two-hundred day moving average of $21.39. ArriVent BioPharma has a one year low of $15.47 and a one year high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.09. As a group, sell-side analysts predict that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in shares of ArriVent BioPharma by 1,009.1% during the second quarter. Squarepoint Ops LLC now owns 204,355 shares of the company’s stock worth $4,449,000 after purchasing an additional 185,929 shares during the last quarter. Suvretta Capital Management LLC raised its stake in shares of ArriVent BioPharma by 8.5% during the 3rd quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock valued at $68,329,000 after buying an additional 290,664 shares during the last quarter. Anson Funds Management LP acquired a new position in shares of ArriVent BioPharma in the 3rd quarter valued at about $1,843,000. Fund 1 Investments LLC purchased a new stake in shares of ArriVent BioPharma in the second quarter worth about $11,503,000. Finally, AlphaQuest LLC purchased a new stake in shares of ArriVent BioPharma in the third quarter worth about $765,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

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.