ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives Average Rating of "Buy" from Brokerages

Key Points

• ArriVent BioPharma, Inc. has an average consensus rating of "Buy" from eight analysts, with a 12-month price target averaging $39.14.
• The company reported a quarterly EPS of ($0.90), missing estimates, and analysts predict a -2.74 EPS for the current fiscal year.
• Institutional investors have significantly increased their stake in ArriVent BioPharma, with Squarepoint Ops LLC raising its holdings by 1,009.1% in the latest quarter.

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has received a consensus rating of "Buy" from the eight analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $39.1429.

Several research analysts recently commented on the stock. Zacks Research upgraded shares of ArriVent BioPharma from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. B. Riley raised ArriVent BioPharma to a "strong-buy" rating in a research report on Monday, August 25th. Guggenheim reiterated a "buy" rating and set a $45.00 price objective on shares of ArriVent BioPharma in a report on Tuesday, June 24th. The Goldman Sachs Group upgraded ArriVent BioPharma to a "buy" rating and set a $33.00 target price on the stock in a research note on Thursday, July 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $42.00 target price (up from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th.

Institutional Trading of ArriVent BioPharma

A number of institutional investors have recently bought and sold shares of AVBP. Squarepoint Ops LLC increased its stake in ArriVent BioPharma by 1,009.1% during the 2nd quarter. Squarepoint Ops LLC now owns 204,355 shares of the company's stock valued at $4,449,000 after purchasing an additional 185,929 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of ArriVent BioPharma by 571.6% during the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company's stock valued at $145,000 after buying an additional 5,676 shares during the last quarter. Fund 1 Investments LLC acquired a new position in shares of ArriVent BioPharma in the 2nd quarter valued at $11,503,000. BNP Paribas Financial Markets raised its stake in ArriVent BioPharma by 31.0% in the 2nd 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. Finally, Brevan Howard Capital Management LP purchased a new position in ArriVent BioPharma in the 2nd quarter worth $209,000. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Trading Down 4.8%

Shares of NASDAQ AVBP opened at $18.87 on Thursday. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37. The firm's 50-day moving average price is $19.98 and its 200-day moving average price is $20.55. The stock has a market capitalization of $765.56 million, a price-to-earnings ratio of -4.69 and a beta of 1.17.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.20). On average, equities analysts predict that ArriVent BioPharma will post -2.74 EPS 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.

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