ArriVent BioPharma, Inc. (NASDAQ:AVBP) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $43.3750.

A number of research firms have recently commented on AVBP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Monday, April 20th. B. Riley Financial raised their price objective on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. Citigroup reduced their price objective on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, BTIG Research started coverage on shares of ArriVent BioPharma in a report on Thursday, March 12th. They set a “buy” rating and a $42.00 price objective for the company.

Hedge Funds Weigh In On ArriVent BioPharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after buying an additional 438 shares during the period. Wellington Management Group LLP lifted its position in shares of ArriVent BioPharma by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock worth $1,655,000 after buying an additional 532 shares during the period. Woodline Partners LP lifted its position in shares of ArriVent BioPharma by 0.4% during the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after buying an additional 576 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of ArriVent BioPharma by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock worth $297,000 after buying an additional 585 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in ArriVent BioPharma by 31.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after purchasing an additional 609 shares during the last quarter. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Trading Up 3.4%

Shares of AVBP stock opened at $31.36 on Friday. The stock has a 50 day moving average of $29.10 and a two-hundred day moving average of $24.93. ArriVent BioPharma has a 12 month low of $16.10 and a 12 month high of $33.62. The company has a market capitalization of $1.46 billion, a P/E ratio of -9.04 and a beta of 1.41.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Sell-side analysts predict that ArriVent BioPharma will post -3.78 earnings per share for the current fiscal year.

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.