ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives $39.40 Average Target Price from Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $39.00.

AVBP has been the subject of a number of recent analyst reports. B. Riley assumed coverage on ArriVent BioPharma in a research report on Thursday. They set a “buy” rating and a $37.00 target price for the company. Guggenheim assumed coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a “buy” rating and a $45.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $39.00 price objective on shares of ArriVent BioPharma in a research note on Friday, March 7th.

Institutional Trading of ArriVent BioPharma

Several large investors have recently bought and sold shares of the business. Infinitum Asset Management LLC bought a new position in shares of ArriVent BioPharma in the fourth quarter worth about $43,794,000. Suvretta Capital Management LLC lifted its stake in ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after purchasing an additional 400,838 shares during the last quarter. Geode Capital Management LLC boosted its position in ArriVent BioPharma by 154.2% in the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock valued at $14,036,000 after buying an additional 362,221 shares in the last quarter. State Street Corp grew its stake in shares of ArriVent BioPharma by 210.4% during the third quarter. State Street Corp now owns 476,809 shares of the company’s stock worth $11,205,000 after buying an additional 323,186 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of ArriVent BioPharma by 8.7% during the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after buying an additional 169,514 shares in the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Performance

AVBP stock opened at $19.52 on Thursday. ArriVent BioPharma has a 52 week low of $14.35 and a 52 week high of $36.37. The company has a market capitalization of $663.99 million, a PE ratio of -7.60 and a beta of 1.00. The company’s 50-day simple moving average is $24.92 and its 200 day simple moving average is $26.72.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. On average, analysts forecast that ArriVent BioPharma will post -2.74 EPS for the current 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.