ArriVent BioPharma (NASDAQ:AVBP – Get Free Report)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued on Friday, Benzinga reports. They presently have a $29.00 target price on the stock. BTIG Research’s price objective points to a potential upside of 74.07% from the company’s previous close.
Several other research analysts have also commented on AVBP. Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Thursday. Jefferies Financial Group set a $18.00 price objective on ArriVent BioPharma in a report on Tuesday, October 6th. Guggenheim lowered their price objective on ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Finally, Truist Financial dropped their target price on ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ArriVent BioPharma presently has a consensus rating of “Moderate Buy” and an average target price of $27.44.
Get Our Latest Research Report on AVBP
ArriVent BioPharma Stock Down 0.8%
AVBP stock traded down $0.13 during trading on Friday, hitting $16.66. 1,334,018 shares of the company’s stock traded hands, compared to its average volume of 678,197. The firm has a market capitalization of $821.47 million, a P/E ratio of -4.60 and a beta of 1.34. ArriVent BioPharma has a 1 year low of $11.36 and a 1 year high of $35.83. The business has a fifty day simple moving average of $27.62 and a two-hundred day simple moving average of $29.15.
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). On average, equities research analysts predict that ArriVent BioPharma will post -4.05 EPS for the current fiscal year.
Institutional Investors Weigh In On ArriVent BioPharma
A number of large investors have recently made changes to their positions in AVBP. Hhlr Advisors LTD. acquired a new stake in ArriVent BioPharma during the 2nd quarter worth about $136,498,000. BlackRock Inc. acquired a new position in shares of ArriVent BioPharma in the second quarter valued at about $112,919,000. General Catalyst Group Management LLC purchased a new position in shares of ArriVent BioPharma in the second quarter worth about $51,929,000. Vivo Capital LLC purchased a new position in shares of ArriVent BioPharma in the first quarter worth about $20,438,000. Finally, Seven Fleet Capital Management LP raised its position in ArriVent BioPharma by 390.7% during the 2nd quarter. Seven Fleet Capital Management LP now owns 246,606 shares of the company’s stock worth $8,567,000 after buying an additional 196,354 shares during the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.
ArriVent BioPharma Company Profile
ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision medicines for patients with genetically defined cancers. The company seeks to identify promising therapies developed in other regions and advance them through clinical development and regulatory approval in the United States and other markets.
ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor designed to target specific EGFR mutations in non-small cell lung cancer, including EGFR exon 20 insertion mutations.
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