B. Riley Begins Coverage on ArriVent BioPharma (NASDAQ:AVBP)

B. Riley started coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $37.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim started coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They issued a “buy” rating and a $45.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a research note on Friday, March 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ArriVent BioPharma has a consensus rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Trading Down 0.1 %

Shares of ArriVent BioPharma stock opened at $19.52 on Thursday. The company has a 50 day moving average of $24.92 and a 200-day moving average of $26.72. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37. The company has a market cap of $663.99 million, a PE ratio of -7.60 and a beta of 1.00.

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

Hedge Funds Weigh In On ArriVent BioPharma

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake in shares of ArriVent BioPharma by 561.3% during the fourth quarter. California State Teachers Retirement System now owns 13,649 shares of the company’s stock valued at $364,000 after acquiring an additional 11,585 shares during the last quarter. Infinitum Asset Management LLC bought a new position in shares of ArriVent BioPharma during the fourth quarter valued at $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of ArriVent BioPharma during the fourth quarter valued at $218,000. Woodline Partners LP raised its stake in shares of ArriVent BioPharma by 20.5% during the fourth quarter. Woodline Partners LP now owns 145,797 shares of the company’s stock valued at $3,884,000 after acquiring an additional 24,853 shares during the last quarter. Finally, Suvretta Capital Management LLC raised its stake in shares of ArriVent BioPharma by 21.7% during the fourth quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after acquiring an additional 400,838 shares during the last quarter. Institutional investors 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.