ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated by Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group initiated coverage on shares of ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) in a report released on Thursday. The firm set a "buy" rating and a $33.00 price target on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 54.46% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Guggenheim reaffirmed a "buy" rating and set a $45.00 price objective on shares of ArriVent BioPharma in a report on Tuesday, June 24th. Wall Street Zen cut shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Oppenheimer reiterated an "outperform" rating and issued a $44.00 price target (up from $39.00) on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. HC Wainwright raised their price objective on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Jones Trading assumed coverage on shares of ArriVent BioPharma in a report on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ArriVent BioPharma has an average rating of "Moderate Buy" and an average price target of $39.29.

ArriVent BioPharma Trading Up 0.1%

ArriVent BioPharma stock traded up $0.03 during trading hours on Thursday, reaching $21.37. 21,077 shares of the stock were exchanged, compared to its average volume of 228,675. The company has a market cap of $730.90 million, a P/E ratio of -5.66 and a beta of 1.20. ArriVent BioPharma has a twelve month low of $15.47 and a twelve month high of $36.37. The stock has a 50 day moving average of $21.68 and a two-hundred day moving average of $22.69.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($1.24). On average, analysts expect that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds have recently bought and sold shares of AVBP. Infinitum Asset Management LLC purchased a new position in shares of ArriVent BioPharma during the 4th quarter valued at approximately $43,794,000. Suvretta Capital Management LLC raised its stake in ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock valued at $59,833,000 after purchasing an additional 400,838 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ArriVent BioPharma by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company's stock worth $27,797,000 after acquiring an additional 86,067 shares during the last quarter. Octagon Capital Advisors LP increased its stake in shares of ArriVent BioPharma by 4.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company's stock worth $54,862,000 after acquiring an additional 83,000 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of ArriVent BioPharma during the 1st quarter worth about $819,000. Hedge funds and other institutional investors own 9.48% of the company's stock.

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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