Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) PT at $39.14

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $39.1429.

A number of research firms have weighed in on AVBP. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. B. Riley raised ArriVent BioPharma to a “strong-buy” rating in a report on Monday, August 25th. The Goldman Sachs Group raised shares of ArriVent BioPharma to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, July 10th. Oppenheimer reiterated an “outperform” rating and issued a $44.00 price objective (up from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. Finally, Guggenheim reissued a “buy” rating and issued a $45.00 price objective on shares of ArriVent BioPharma in a report on Tuesday, June 24th.

Institutional Trading of ArriVent BioPharma

Several institutional investors have recently added to or reduced their stakes in AVBP. BNP Paribas Financial Markets lifted its stake in ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of ArriVent BioPharma by 571.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock valued at $145,000 after acquiring an additional 5,676 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of ArriVent BioPharma during the 1st quarter valued at about $189,000. Walleye Capital LLC bought a new position in ArriVent BioPharma during the 2nd quarter worth approximately $206,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of ArriVent BioPharma in the 2nd quarter valued at approximately $209,000. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Down 1.3%

Shares of AVBP opened at $20.86 on Monday. ArriVent BioPharma has a 52-week low of $15.47 and a 52-week high of $36.37. The firm has a 50-day moving average price of $19.02 and a 200 day moving average price of $20.13. The firm has a market capitalization of $846.29 million, a PE ratio of -5.19 and a beta of 1.11.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20). On average, equities analysts expect that ArriVent BioPharma will post -2.74 EPS for the current year.

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.