ArriVent BioPharma (NASDAQ:AVBP) Trading Up 6.8% – Still a Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price traded up 6.8% on Thursday . The stock traded as high as $23.40 and last traded at $23.09. 334,457 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 482,153 shares. The stock had previously closed at $21.62.

Analyst Upgrades and Downgrades

AVBP has been the subject of several analyst 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 target for the company. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Cantor Fitzgerald started coverage on ArriVent BioPharma in a report on Monday, December 22nd. They issued an “overweight” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. Finally, Citigroup cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

ArriVent BioPharma Trading Up 3.7%

The firm has a market cap of $925.50 million, a PE ratio of -5.29 and a beta of 1.02. The company has a 50 day moving average price of $22.12 and a 200 day moving average price of $20.40.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data 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). As a group, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVBP. AIHC Capital Management Ltd purchased a new stake in shares of ArriVent BioPharma in the 4th quarter worth about $12,973,000. Vanguard Group Inc. increased 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 worth $37,445,000 after purchasing an additional 545,991 shares in the last quarter. Fund 1 Investments LLC purchased a new position in shares of ArriVent BioPharma during the 2nd quarter worth approximately $11,503,000. UBS Group AG raised its position in shares of ArriVent BioPharma by 474.7% during the 3rd quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after purchasing an additional 411,013 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in ArriVent BioPharma by 71.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 742,526 shares of the company’s stock valued at $14,940,000 after buying an additional 310,587 shares in the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

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.