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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $41.1111.

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. BTIG Research started coverage on ArriVent BioPharma in a research note on Wednesday, December 10th. They issued a “buy” rating and a $45.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a report on Friday. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Finally, HC Wainwright increased their price target on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday.

ArriVent BioPharma Trading Up 5.9%

Shares of AVBP stock opened at $24.81 on Thursday. The firm’s 50 day moving average is $22.28 and its 200 day moving average is $20.98. The stock has a market capitalization of $1.10 billion, a P/E ratio of -5.63 and a beta of 0.98. ArriVent BioPharma has a 12 month low of $15.47 and a 12 month high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. On average, equities analysts predict that ArriVent BioPharma will post -2.74 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVBP. AIHC Capital Management Ltd bought a new position in shares of ArriVent BioPharma in the fourth quarter worth $12,973,000. Vanguard Group Inc. boosted its stake in ArriVent BioPharma by 36.8% during the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after buying an additional 545,991 shares during the period. Fund 1 Investments LLC bought a new stake in ArriVent BioPharma during the second quarter valued at $11,503,000. UBS Group AG grew its position in ArriVent BioPharma by 474.7% during the third quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after buying an additional 411,013 shares in the last quarter. Finally, Suvretta Capital Management LLC grew its position in ArriVent BioPharma by 10.9% during the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock worth $82,613,000 after buying an additional 402,583 shares in the last quarter. 9.48% of the stock is owned by institutional investors.

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.