Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Price Target at $44.86

ArriVent BioPharma, Inc. (NASDAQ:AVBPGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $44.8571.

Several equities analysts have weighed in on AVBP shares. Guggenheim reissued a “buy” rating and set a $45.00 price objective on shares of ArriVent BioPharma in a report on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. HC Wainwright upped their price target on ArriVent BioPharma from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Citigroup cut their price target on ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th.

View Our Latest Stock Report on ArriVent BioPharma

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock opened at $30.51 on Thursday. The stock has a market capitalization of $1.50 billion, a PE ratio of -8.43 and a beta of 1.35. ArriVent BioPharma has a 52 week low of $17.00 and a 52 week high of $35.83. The stock has a 50 day moving average price of $31.46 and a two-hundred day moving average price of $28.58.

ArriVent BioPharma (NASDAQ:AVBPGet Free Report) last issued 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). Research analysts forecast that ArriVent BioPharma will post -4.01 EPS for the current year.

Institutional Trading of ArriVent BioPharma

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its stake in shares of ArriVent BioPharma by 4,707.0% during the 2nd quarter. California State Teachers Retirement System now owns 930,963 shares of the company’s stock valued at $32,342,000 after buying an additional 911,596 shares in the last quarter. Montanova Capital LLC raised its holdings 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 during the period. Wellington Management Group LLP raised its holdings in ArriVent BioPharma by 28.9% during 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. General Catalyst Group Management LLC purchased a new stake in shares of ArriVent BioPharma during the second quarter worth $51,929,000. Finally, Seven Fleet Capital Management LP lifted its position in shares of ArriVent BioPharma by 390.7% during the second quarter. Seven Fleet Capital Management LP now owns 246,606 shares of the company’s stock worth $8,567,000 after acquiring an additional 196,354 shares in the last quarter. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ArriVent BioPharma (NASDAQ:AVBP)

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