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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $44.8333.

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Citigroup dropped their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Truist Financial lifted their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 29th.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in ArriVent BioPharma during the first quarter worth approximately $266,000. Woodline Partners LP increased its position in shares of ArriVent BioPharma by 0.4% in the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after buying an additional 576 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of ArriVent BioPharma in the first quarter valued at approximately $189,000. Legal & General Group Plc raised its stake in shares of ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after buying an additional 1,197 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of ArriVent BioPharma during the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Down 0.5%

Shares of AVBP stock opened at $30.84 on Friday. ArriVent BioPharma has a 52-week low of $16.10 and a 52-week high of $35.83. The stock has a market cap of $1.44 billion, a PE ratio of -8.89 and a beta of 1.36. The business has a 50-day simple moving average of $31.80 and a 200-day simple moving average of $27.55.

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

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.