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

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) have been assigned a consensus rating of "Buy" from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $40.00.

Several research firms recently issued reports on AVBP. Wall Street Zen lowered shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Jones Trading began coverage on shares of ArriVent BioPharma in a research note on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target for the company. Oppenheimer restated an "outperform" rating and set a $44.00 price target (up previously from $39.00) on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. B. Riley began coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They set a "buy" rating and a $37.00 price target for the company. Finally, Guggenheim restated a "buy" rating and set a $45.00 price target on shares of ArriVent BioPharma in a research note on Tuesday, June 24th.

Institutional Investors Weigh In On ArriVent BioPharma

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after purchasing an additional 1,416 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in shares of ArriVent BioPharma in the 4th quarter worth about $73,000. KLP Kapitalforvaltning AS bought a new stake in shares of ArriVent BioPharma in the 4th quarter worth about $83,000. Jane Street Group LLC bought a new stake in ArriVent BioPharma during the 1st quarter worth about $189,000. Finally, New York State Common Retirement Fund grew its holdings in ArriVent BioPharma by 34.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock worth $207,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock traded up $0.10 on Friday, reaching $22.91. The stock had a trading volume of 876,062 shares, compared to its average volume of 221,050. The business's 50-day moving average price is $21.66 and its two-hundred day moving average price is $22.96. ArriVent BioPharma has a fifty-two week low of $15.47 and a fifty-two week high of $36.37. The stock has a market cap of $783.75 million, a P/E ratio of -6.08 and a beta of 1.26.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($1.24). As a group, equities analysts forecast 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.