ArriVent BioPharma (NASDAQ:AVBP) Sets New 12-Month High - Should You Buy?

Key Points

• ArriVent shares hit a new 52-week high, trading as high as $27.75 (last $27.25) on volume of 1,333,789 shares, up from the prior close of $25.25.
• Analysts show a consensus rating of Moderate Buy with a $41.67 average target; broker actions include upgrades and higher targets (e.g., Oppenheimer $50, Citigroup $33, BTIG $42) while ratings range from Strong Buy to Sell.
• The clinical-stage biotech (market cap ≈ $1.2B) reported Q results that beat estimates (EPS -$0.78 vs. -$0.87), has a negative P/E, and is advancing Furmonertinib in multiple NSCLC trials including a phase 3.

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $27.75 and last traded at $27.25, with a volume of 1333789 shares traded. The stock had previously closed at $25.25.

Analyst Ratings Changes

Several brokerages have recently commented on AVBP. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Citigroup raised their price objective on shares of ArriVent BioPharma from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Oppenheimer reaffirmed an "outperform" rating and set a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. Cantor Fitzgerald began coverage on shares of ArriVent BioPharma in a research report on Monday, December 22nd. They set an "overweight" rating for the company. Finally, BTIG Research began coverage on shares of ArriVent BioPharma in a research report on Thursday, March 12th. They set a "buy" rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ArriVent BioPharma has an average rating of "Moderate Buy" and a consensus target price of $41.67.

ArriVent BioPharma Stock Performance

The business has a fifty day moving average of $23.30 and a 200-day moving average of $21.67. The company has a market capitalization of $1.20 billion, a P/E ratio of -6.18 and a beta of 0.85.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.87) by $0.09. Sell-side analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Large investors have recently modified their holdings of the company. Bessemer Group Inc. bought a new position in shares of ArriVent BioPharma in the 3rd quarter worth $26,000. Russell Investments Group Ltd. lifted its stake in ArriVent BioPharma by 9,747.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company's stock valued at $38,000 after acquiring an additional 2,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company's stock valued at $40,000 after acquiring an additional 438 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in ArriVent BioPharma by 31.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock valued at $56,000 after acquiring an additional 609 shares in the last quarter. Finally, Group One Trading LLC bought a new position in ArriVent BioPharma during the 4th quarter valued at $57,000. 9.48% of the stock is currently owned by institutional investors.

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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