ArriVent BioPharma (NASDAQ:AVBP) Hits New 12-Month High – What’s Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price reached a new 52-week high on Monday . The company traded as high as $34.06 and last traded at $33.12, with a volume of 105705 shares changing hands. The stock had previously closed at $31.74.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. B. Riley Financial raised their target price on ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Monday, April 20th. BTIG Research initiated coverage on shares of ArriVent BioPharma in a report on Thursday, March 12th. They issued a “buy” rating and a $42.00 target price on the stock. HC Wainwright raised their price target on ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Oppenheimer reissued an “outperform” rating and set a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ArriVent BioPharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

ArriVent BioPharma Stock Up 2.6%

The stock’s fifty day moving average price is $29.36 and its 200-day moving average price is $25.06. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -9.39 and a beta of 1.41.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.08). Analysts anticipate that ArriVent BioPharma, Inc. will post -3.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVBP. Vivo Capital LLC acquired a new position in ArriVent BioPharma during the first quarter worth $20,438,000. AIHC Capital Management Ltd purchased a new position in shares of ArriVent BioPharma during the 4th quarter valued at $12,973,000. Vanguard Group Inc. raised its stake in shares of ArriVent BioPharma by 36.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after purchasing an additional 545,991 shares during the period. UBS Group AG increased its stake in ArriVent BioPharma by 474.7% in the 3rd quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after acquiring an additional 411,013 shares during the last quarter. Finally, Suvretta Capital Management LLC raised its position in shares of ArriVent BioPharma by 10.9% during the 4th quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock valued at $82,613,000 after buying an additional 402,583 shares in the last quarter. 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.