ArriVent BioPharma (NASDAQ:AVBP) Earns Outperform Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of ArriVent BioPharma (NASDAQ:AVBP - Free Report) in a research note released on Tuesday, MarketBeat Ratings reports. Oppenheimer currently has a $44.00 target price on the stock, up from their previous target price of $39.00.

A number of other equities research analysts have also recently commented on AVBP. Guggenheim reaffirmed a "buy" rating and issued a $45.00 target price on shares of ArriVent BioPharma in a report on Tuesday. 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 objective for the company. Wall Street Zen cut ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. B. Riley assumed coverage on ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 target price on the stock. Finally, HC Wainwright upped their price target on ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

ArriVent BioPharma Stock Performance

NASDAQ AVBP traded up $0.05 on Tuesday, reaching $22.86. The stock had a trading volume of 97,589 shares, compared to its average volume of 217,741. The stock has a market cap of $782.01 million, a P/E ratio of -6.06 and a beta of 1.26. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37. The business's 50-day moving average price is $21.56 and its 200 day moving average price is $23.03.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its earnings results 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.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVBP. Tower Research Capital LLC TRC boosted its stake in shares of ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after buying an additional 1,416 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of ArriVent BioPharma during the 4th quarter worth $73,000. KLP Kapitalforvaltning AS purchased a new stake in shares of ArriVent BioPharma during the 4th quarter worth $83,000. Jane Street Group LLC acquired a new position in shares of ArriVent BioPharma during the 1st quarter worth $189,000. Finally, New York State Common Retirement Fund increased its holdings in shares of ArriVent BioPharma by 34.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock valued at $207,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds 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.