Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Target Price at $39.29

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has earned an average recommendation of "Buy" from the seven brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $39.29.

AVBP has been the subject of a number of research analyst reports. HC Wainwright raised their price objective on ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. 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. Guggenheim initiated coverage on ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 price objective on the stock. Wall Street Zen downgraded ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Jones Trading initiated coverage on shares of ArriVent BioPharma in a report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 target price for the company.

ArriVent BioPharma Stock Down 1.7%

AVBP stock traded down $0.40 during midday trading on Tuesday, hitting $22.72. The company's stock had a trading volume of 386,063 shares, compared to its average volume of 192,201. ArriVent BioPharma has a 12 month low of $15.47 and a 12 month high of $36.37. The company has a 50 day moving average of $19.45 and a two-hundred day moving average of $23.53. The firm has a market capitalization of $777.32 million, a price-to-earnings ratio of -6.03 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($1.24). On average, analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of AVBP. Suvretta Capital Management LLC boosted its position in ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock valued at $59,833,000 after buying an additional 400,838 shares during the period. Infinitum Asset Management LLC boosted its holdings in shares of ArriVent BioPharma by 25.7% in the first quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company's stock valued at $38,205,000 after purchasing an additional 422,315 shares during the period. Octagon Capital Advisors LP grew its stake in ArriVent BioPharma by 4.2% in the fourth quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company's stock worth $54,862,000 after purchasing an additional 83,000 shares in the last quarter. Novo Holdings A S increased its holdings in ArriVent BioPharma by 1.0% during the 4th quarter. Novo Holdings A S now owns 1,520,627 shares of the company's stock worth $40,510,000 after purchasing an additional 15,312 shares during the period. Finally, Vanguard Group Inc. increased its holdings in ArriVent BioPharma by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company's stock worth $27,797,000 after purchasing an additional 86,067 shares during the period. Hedge funds and other institutional investors own 9.48% of the company's stock.

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.