ArriVent BioPharma (NASDAQ:AVBP) Price Target Raised to $47.00

Key Points

• HC Wainwright raised ArriVent BioPharma’s price target to $47 from $44 while maintaining a “buy” rating, implying approximately 59% upside from the prior close.
• Analyst sentiment remains broadly positive: eight analysts rate the stock Buy, one Hold, and one Sell, producing a consensus “Moderate Buy” rating and an average target of $44.86.
• ArriVent reported quarterly EPS of -$1.05, missing the $0.99 loss estimate, while the company continues developing targeted cancer therapies including furmonertinib for EGFR-mutated non-small cell lung cancer.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) had its price target lifted by stock analysts at HC Wainwright from $44.00 to $47.00 in a research report issued on Monday, Marketbeat reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 59.27% from the company's previous close.

Several other analysts have also recently commented on AVBP. Cantor Fitzgerald reiterated an "overweight" rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. BTIG Research reaffirmed a "buy" rating and set a $42.00 target price on shares of ArriVent BioPharma in a report on Thursday. Citigroup decreased their price target on shares of ArriVent BioPharma from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday. Truist Financial increased their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Guggenheim restated a "buy" rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.86.

ArriVent BioPharma Price Performance

AVBP stock opened at $29.51 on Monday. ArriVent BioPharma has a 52 week low of $17.00 and a 52 week high of $35.83. The firm has a 50-day simple moving average of $31.79 and a 200-day simple moving average of $27.86. The stock has a market capitalization of $1.37 billion, a P/E ratio of -8.15 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.06). On average, analysts expect that ArriVent BioPharma will post -3.96 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in ArriVent BioPharma by 758.2% in the first quarter. Dimensional Fund Advisors LP now owns 126,525 shares of the company's stock valued at $2,918,000 after purchasing an additional 111,782 shares in the last quarter. Tema ETFs LLC purchased a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at about $1,981,000. Vivo Capital LLC acquired a new stake in shares of ArriVent BioPharma in the first quarter valued at approximately $20,438,000. Affinity Asset Advisors LLC grew its position in shares of ArriVent BioPharma by 16.7% during the first quarter. Affinity Asset Advisors LLC now owns 175,000 shares of the company's stock worth $4,037,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Seven Fleet Capital Management LP acquired a new position in shares of ArriVent BioPharma in the 1st quarter valued at $1,159,000. Hedge funds and other 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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.

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