ArriVent BioPharma, Inc. (NASDAQ:AVBP) Given Average Rating of "Buy" by Analysts

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has earned a consensus recommendation of "Buy" from the six research firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $39.00.

A number of research analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $39.00 target price on shares of ArriVent BioPharma in a report on Friday, March 7th. B. Riley began coverage on ArriVent BioPharma in a report on Thursday, March 20th. They set a "buy" rating and a $37.00 price target for the company. Finally, Guggenheim initiated coverage on ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 price target for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AVBP. Infinitum Asset Management LLC purchased a new stake in shares of ArriVent BioPharma in the 4th quarter valued at $43,794,000. Suvretta Capital Management LLC boosted its stake in shares of ArriVent BioPharma by 21.7% during the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock valued at $59,833,000 after purchasing an additional 400,838 shares in the last quarter. Octagon Capital Advisors LP grew its holdings in shares of ArriVent BioPharma by 4.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company's stock worth $54,862,000 after acquiring an additional 83,000 shares during the period. Vanguard Group Inc. grew its stake in ArriVent BioPharma by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 1,417,291 shares of the company's stock worth $37,757,000 after purchasing an additional 71,741 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of ArriVent BioPharma in the 4th quarter worth about $1,117,000. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Price Performance

NASDAQ AVBP opened at $19.86 on Friday. ArriVent BioPharma has a 52-week low of $15.47 and a 52-week high of $36.37. The firm has a market capitalization of $676.13 million, a price-to-earnings ratio of -7.73 and a beta of 1.47. The company's fifty day moving average is $19.56 and its two-hundred day moving average is $24.99.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.78) by $0.18. As a group, sell-side analysts expect 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.

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