ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $44.86.
AVBP has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Tuesday. HC Wainwright upped their target price on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Citigroup reduced their target price on shares of ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Finally, BTIG Research reiterated a “buy” rating and issued a $42.00 price target on shares of ArriVent BioPharma in a report on Thursday, August 13th.
Get Our Latest Stock Report on ArriVent BioPharma
ArriVent BioPharma Stock Performance
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.06). On average, equities analysts predict that ArriVent BioPharma will post -4.01 EPS for the current year.
Hedge Funds Weigh In On ArriVent BioPharma
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC purchased a new stake in shares of ArriVent BioPharma in the 2nd quarter worth approximately $1,981,000. Engineers Gate Manager LP purchased a new stake in ArriVent BioPharma during the second quarter worth $773,000. Arizona State Retirement System bought a new stake in ArriVent BioPharma during the 2nd quarter valued at $233,000. Montanova Capital LLC boosted its position in ArriVent BioPharma by 2.6% during the 2nd quarter. Montanova Capital LLC now owns 4,515,531 shares of the company’s stock valued at $156,870,000 after acquiring an additional 114,448 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of ArriVent BioPharma by 28.9% in the 2nd quarter. Wellington Management Group LLP now owns 100,855 shares of the company’s stock valued at $3,504,000 after acquiring an additional 22,642 shares during the period. Institutional investors own 9.48% of the company’s stock.
About ArriVent BioPharma
ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with genetically defined cancers. The company’s strategy is to identify promising therapies that have been developed or clinically validated in other markets and advance them through global development programs.
ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor. The company is evaluating furmonertinib as a potential treatment for patients with EGFR-mutated non-small cell lung cancer, including tumors with EGFR exon 20 insertion mutations and other EGFR alterations.
ArriVent obtained exclusive development and commercialization rights for furmonertinib outside China through a collaboration with Allist Pharmaceuticals.
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