ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has been assigned a consensus rating of "Buy" from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $39.00.
Several research analysts recently weighed in on AVBP shares. HC Wainwright restated a "buy" rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a research report on Friday, March 7th. B. Riley assumed coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They issued a "buy" rating and a $37.00 price target on the stock. Finally, Guggenheim assumed coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 target price on the stock.
Read Our Latest Report on AVBP
Hedge Funds Weigh In On ArriVent BioPharma
Several institutional investors and hedge funds have recently bought and sold shares of AVBP. The Manufacturers Life Insurance Company acquired a new stake in shares of ArriVent BioPharma in the 3rd quarter valued at $240,000. State Street Corp grew its stake in shares of ArriVent BioPharma by 210.4% during the 3rd quarter. State Street Corp now owns 476,809 shares of the company's stock worth $11,205,000 after purchasing an additional 323,186 shares during the period. Barclays PLC lifted its stake in shares of ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company's stock valued at $976,000 after purchasing an additional 38,132 shares during the period. Geode Capital Management LLC grew its position in ArriVent BioPharma by 154.2% during the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company's stock worth $14,036,000 after buying an additional 362,221 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of ArriVent BioPharma by 183.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock worth $292,000 after buying an additional 8,050 shares during the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.
ArriVent BioPharma Price Performance
NASDAQ AVBP traded up $0.24 during mid-day trading on Monday, reaching $18.14. 179,598 shares of the stock were exchanged, compared to its average volume of 169,123. The stock has a market cap of $617.05 million, a P/E ratio of -7.06 and a beta of 1.66. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37. The stock has a 50 day simple moving average of $20.97 and a 200-day simple moving average of $25.67.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.18. Sell-side analysts anticipate that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.
About ArriVent BioPharma
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Get Free ReportArriVent 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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