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

Key Points

• Analysts give ArriVent BioPharma a “Moderate Buy” consensus: Six analysts rate the stock a buy, one a strong buy, one a hold, and one a sell. The average 12-month price target is $44.83.
• AVBP opened at $29.82, with a market capitalization of about $1.39 billion and a 52-week trading range of $16.10 to $35.83. Recent price targets include Truist’s increase to $45 and Citigroup’s reduction to $43.
• The clinical-stage biotech reported a quarterly loss of $0.96 per share, missing the $0.88 consensus estimate, while analysts expect a full-year loss of approximately $3.90 per share. Institutional investors own 9.48% of the company.

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $44.8333.

A number of research firms have commented on AVBP. Weiss Ratings restated a "sell (d-)" rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Truist Financial increased their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Finally, Citigroup decreased their price objective on shares of ArriVent BioPharma from $45.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP opened at $29.82 on Friday. The stock has a 50-day simple moving average of $31.51 and a two-hundred day simple moving average of $27.23. The firm has a market capitalization of $1.39 billion, a PE ratio of -8.59 and a beta of 1.29. ArriVent BioPharma has a 52-week low of $16.10 and a 52-week high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.08). Equities analysts forecast that ArriVent BioPharma will post -3.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors and hedge funds have recently bought and sold shares of AVBP. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ArriVent BioPharma by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company's stock worth $40,000 after purchasing an additional 438 shares in the last quarter. Russell Investments Group Ltd. increased its stake in ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company's stock worth $38,000 after acquiring an additional 2,047 shares during the last quarter. BNP Paribas Financial Markets increased its stake in ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock worth $56,000 after acquiring an additional 609 shares during the last quarter. Group One Trading LLC purchased a new stake in ArriVent BioPharma during the fourth quarter valued at approximately $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in ArriVent BioPharma by 696.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company's stock valued at $60,000 after purchasing an additional 2,849 shares during the period. 9.48% of the stock is owned by institutional investors.

About ArriVent BioPharma

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.