ArriVent BioPharma (NASDAQ:AVBP – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a research note issued on Friday, Benzinga reports. They presently have a $29.00 price objective on the stock. BTIG Research’s target price would suggest a potential upside of 74.07% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the stock. Truist Financial lowered their target price on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. JonesTrading reduced their target price on shares of ArriVent BioPharma from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Citigroup decreased their price target on shares of ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Jefferies Financial Group set a $18.00 price target on shares of ArriVent BioPharma in a research report on Tuesday, October 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Tuesday, September 22nd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.44.
Check Out Our Latest Stock Report on ArriVent BioPharma
ArriVent BioPharma Stock Down 0.8%
Shares of ArriVent BioPharma stock traded down $0.13 during mid-day trading on Friday, reaching $16.66. 1,334,018 shares of the stock traded hands, compared to its average volume of 678,205. The business has a 50-day moving average of $27.62 and a 200 day moving average of $29.15. ArriVent BioPharma has a fifty-two week low of $11.36 and a fifty-two week high of $35.83. The stock has a market capitalization of $821.47 million, a PE ratio of -4.60 and a beta of 1.34.
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). On average, equities research analysts expect that ArriVent BioPharma will post -4.05 EPS for the current fiscal year.
Institutional Trading of ArriVent BioPharma
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tema ETFs LLC acquired a new position in shares of ArriVent BioPharma during the 2nd quarter valued at about $1,981,000. Deutsche Bank AG purchased a new stake in shares of ArriVent BioPharma in the second quarter valued at about $1,361,000. Dimensional Fund Advisors LP grew its holdings in shares of ArriVent BioPharma by 758.2% in the first quarter. Dimensional Fund Advisors LP now owns 126,525 shares of the company’s stock valued at $2,918,000 after purchasing an additional 111,782 shares during the period. E Fund Management Co. Ltd. acquired a new stake in ArriVent BioPharma during the second quarter worth about $3,798,000. Finally, Bank of America Corp DE increased its position in ArriVent BioPharma by 41.9% during the first quarter. Bank of America Corp DE now owns 80,208 shares of the company’s stock worth $1,850,000 after purchasing an additional 23,687 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.
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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