Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) PT at $40.00

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has been assigned an average rating of "Buy" from the seven analysts that are currently covering the company, Marketbeat reports. Six 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 analysts that have issued ratings on the stock in the last year is $40.00.

Several research firms have issued reports on AVBP. Wall Street Zen cut shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. HC Wainwright raised their target price on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. B. Riley initiated coverage on ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 price target for the company. Jones Trading assumed coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $44.00 price objective (up previously from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday, June 24th.

Institutional Trading of ArriVent BioPharma

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in ArriVent BioPharma by 9.1% in the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock valued at $977,000 after acquiring an additional 3,069 shares during the last quarter. New York State Common Retirement Fund increased its stake in ArriVent BioPharma by 34.6% during the fourth 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. Charles Schwab Investment Management Inc. raised its holdings in shares of ArriVent BioPharma by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 206,379 shares of the company's stock worth $5,498,000 after purchasing an additional 4,011 shares during the period. Swiss National Bank acquired a new position in shares of ArriVent BioPharma in the 4th quarter valued at about $703,000. Finally, Intech Investment Management LLC acquired a new position in shares of ArriVent BioPharma in the 4th quarter valued at about $394,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Performance

AVBP stock traded down $0.88 on Friday, reaching $20.89. The company had a trading volume of 415,115 shares, compared to its average volume of 222,662. The company's fifty day moving average is $21.72 and its 200 day moving average is $22.90. The company has a market cap of $714.65 million, a P/E ratio of -5.54 and a beta of 1.21. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($1.24). On average, sell-side analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current 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.