ArriVent BioPharma (NASDAQ:AVBP) Earns Buy Rating from Guggenheim

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating reissued by Guggenheim in a report issued on Tuesday,Benzinga reports. They currently have a $45.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 97.37% from the company’s previous close.

Other equities analysts also recently issued reports about the company. HC Wainwright raised their price objective on ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. B. Riley assumed coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They issued a “buy” rating and a $37.00 price target on the stock. Wall Street Zen lowered shares of ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Finally, Jones Trading assumed coverage on shares of ArriVent BioPharma in a research note on Tuesday, May 20th. They set a “buy” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ArriVent BioPharma presently has an average rating of “Moderate Buy” and an average target price of $40.00.

ArriVent BioPharma Stock Down 1.3%

ArriVent BioPharma stock opened at $22.80 on Tuesday. The stock has a market cap of $779.99 million, a PE ratio of -6.05 and a beta of 1.26. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37. The business’s 50-day moving average price is $21.47 and its two-hundred day moving average price is $23.07.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.24). As a group, analysts expect that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors have recently bought and sold shares of the company. Woodline Partners LP increased its stake 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 worth $2,706,000 after purchasing an additional 576 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in ArriVent BioPharma by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after buying an additional 1,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ArriVent BioPharma by 8.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock valued at $456,000 after buying an additional 1,327 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in ArriVent BioPharma by 773.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after acquiring an additional 1,416 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company’s stock worth $293,000 after acquiring an additional 1,620 shares in the last quarter. Hedge funds and other 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.