ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $40.00 Average Target Price from Analysts

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $40.00.

Several equities analysts have recently issued reports on AVBP shares. Cantor Fitzgerald initiated coverage on ArriVent BioPharma in a research note on Monday, December 22nd. They set an “overweight” rating on the stock. Truist Financial assumed coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 price objective for the company. BTIG Research started coverage on shares of ArriVent BioPharma in a research note on Wednesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th.

ArriVent BioPharma Price Performance

Shares of ArriVent BioPharma stock opened at $21.08 on Friday. The firm has a 50 day simple moving average of $22.15 and a 200 day simple moving average of $20.39. ArriVent BioPharma has a fifty-two week low of $15.47 and a fifty-two week high of $28.12. The firm has a market cap of $870.18 million, a P/E ratio of -4.97 and a beta of 1.02.

ArriVent BioPharma (NASDAQ:AVBP) last posted 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). On average, sell-side analysts expect that ArriVent BioPharma will post -2.74 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVBP. Suvretta Capital Management LLC increased its holdings in ArriVent BioPharma by 8.5% in the third quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock valued at $68,329,000 after purchasing an additional 290,664 shares during the last quarter. Vanguard Group Inc. grew its position 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 buying an additional 545,991 shares during the period. Geode Capital Management LLC grew its position in shares of ArriVent BioPharma by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 753,519 shares of the company’s stock worth $15,164,000 after buying an additional 37,231 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of 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 acquiring an additional 310,587 shares during the last quarter. Finally, AIHC Capital Management Ltd acquired a new stake in shares of ArriVent BioPharma in the 4th quarter valued at approximately $12,973,000. 9.48% of the stock is currently owned by institutional investors.

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.