ArriVent BioPharma (NASDAQ:AVBP) Price Target Raised to $44.00

ArriVent BioPharma (NASDAQ:AVBP - Free Report) had its price objective raised by Oppenheimer from $39.00 to $44.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Jones Trading initiated coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target for the company. B. Riley started coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 price objective on the stock. Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of ArriVent BioPharma in a research note on Tuesday. Wall Street Zen lowered shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright raised their price target on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

ArriVent BioPharma Price Performance

AVBP traded down $0.31 on Tuesday, reaching $22.80. 418,097 shares of the company traded hands, compared to its average volume of 216,721. The company has a market cap of $780.06 million, a price-to-earnings ratio of -6.05 and a beta of 1.26. The stock's 50 day moving average price is $21.37 and its 200-day moving average price is $23.07. ArriVent BioPharma has a 52-week low of $15.47 and a 52-week high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly 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 research analysts forecast that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVBP. Rhumbline Advisers boosted its holdings in ArriVent BioPharma by 9.1% during 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 period. New York State Common Retirement Fund increased its position in shares of 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 valued at $207,000 after purchasing an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ArriVent BioPharma by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 206,379 shares of the company's stock valued at $5,498,000 after purchasing an additional 4,011 shares in the last quarter. Swiss National Bank acquired a new stake in ArriVent BioPharma during the fourth quarter valued at approximately $703,000. Finally, Intech Investment Management LLC bought a new stake in shares of ArriVent BioPharma in the 4th quarter valued at approximately $394,000. Institutional investors own 9.48% of the company's stock.

About ArriVent BioPharma

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.