ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Has Average Target Price of $44.86 According to Brokerages

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $44.86.

A number of equities research analysts have weighed in on the company. HC Wainwright lifted their price objective on ArriVent BioPharma from $44.00 to $47.00 and gave the company a “buy” rating in a report on Monday, August 17th. Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Citigroup dropped their price objective on ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th.

ArriVent BioPharma Stock Performance

Shares of NASDAQ:AVBP opened at $28.45 on Monday. The firm has a 50 day simple moving average of $29.98 and a 200-day simple moving average of $29.28. ArriVent BioPharma has a twelve month low of $17.00 and a twelve month high of $35.83. The company has a market capitalization of $1.40 billion, a PE ratio of -7.86 and a beta of 1.35.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, equities research analysts predict that ArriVent BioPharma will post -4.01 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new position in ArriVent BioPharma in the 2nd quarter valued at about $1,981,000. Engineers Gate Manager LP acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth about $773,000. Arizona State Retirement System purchased a new stake in shares of ArriVent BioPharma during the second quarter worth about $233,000. Montanova Capital LLC grew its holdings in shares of ArriVent BioPharma by 2.6% during the second quarter. Montanova Capital LLC now owns 4,515,531 shares of the company’s stock worth $156,870,000 after buying an additional 114,448 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of ArriVent BioPharma by 28.9% in the second quarter. Wellington Management Group LLP now owns 100,855 shares of the company’s stock valued at $3,504,000 after buying an additional 22,642 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

About ArriVent BioPharma

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with genetically defined cancers. The company’s strategy is to identify promising therapies that have been developed or clinically validated in other markets and advance them through global development programs.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor. The company is evaluating furmonertinib as a potential treatment for patients with EGFR-mutated non-small cell lung cancer, including tumors with EGFR exon 20 insertion mutations and other EGFR alterations.

ArriVent obtained exclusive development and commercialization rights for furmonertinib outside China through a collaboration with Allist Pharmaceuticals.