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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $40.00.

A number of brokerages have issued reports on AVBP. BTIG Research assumed coverage on shares of ArriVent BioPharma in a research note on Wednesday, December 10th. They issued a “buy” rating and a $45.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, October 8th. Citigroup dropped their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Finally, Cantor Fitzgerald began coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating for the company.

Institutional Investors Weigh In On ArriVent BioPharma

Several large investors have recently bought and sold shares of AVBP. Suvretta Capital Management LLC boosted its position in shares of ArriVent BioPharma by 8.5% during the third quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock worth $68,329,000 after purchasing an additional 290,664 shares in the last quarter. Vanguard Group Inc. raised its stake in ArriVent BioPharma by 36.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock worth $37,445,000 after buying an additional 545,991 shares during the period. Fund 1 Investments LLC raised its stake in ArriVent BioPharma by 17.3% during the 3rd quarter. Fund 1 Investments LLC now owns 619,851 shares of the company’s stock worth $11,436,000 after buying an additional 91,456 shares during the period. UBS Group AG lifted its holdings in ArriVent BioPharma by 474.7% during the third quarter. UBS Group AG now owns 497,601 shares of the company’s stock worth $9,181,000 after acquiring an additional 411,013 shares in the last quarter. Finally, Woodline Partners LP grew its stake in ArriVent BioPharma by 102.1% in the third quarter. Woodline Partners LP now owns 296,916 shares of the company’s stock valued at $5,478,000 after acquiring an additional 150,000 shares during the period. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Up 6.7%

Shares of AVBP stock opened at $22.26 on Wednesday. The firm has a market cap of $918.89 million, a price-to-earnings ratio of -5.25 and a beta of 1.03. ArriVent BioPharma has a 12 month low of $15.47 and a 12 month high of $29.71. The stock has a 50-day moving average price of $21.75 and a 200 day moving average price of $20.28.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, November 10th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.05). Sell-side analysts predict that ArriVent BioPharma will post -2.74 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.