ArriVent BioPharma (NASDAQ:AVBP - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Guggenheim in a report released on Tuesday,Benzinga reports. They presently have a $45.00 target price on the stock. Guggenheim's price objective points to a potential upside of 97.37% from the company's previous close.
A number of other equities research analysts have also commented on the company. HC Wainwright increased their price target on ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Jones Trading began coverage on shares of ArriVent BioPharma in a research report on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target for the company. B. Riley began 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. Finally, Wall Street Zen lowered shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. One research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.29.
Read Our Latest Stock Report on ArriVent BioPharma
ArriVent BioPharma Stock Down 9.6%
Shares of ArriVent BioPharma stock opened at $22.80 on Tuesday. The company has a market capitalization of $779.99 million, a price-to-earnings ratio of -6.05 and a beta of 1.26. The firm's 50-day moving average price is $21.28 and its two-hundred day moving average price is $23.07. ArriVent BioPharma has a 12-month low of $15.47 and a 12-month high of $36.37.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings results 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, sell-side analysts expect that ArriVent BioPharma will post -2.74 earnings per share for the current year.
Hedge Funds Weigh In On ArriVent BioPharma
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in shares of ArriVent BioPharma by 773.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after purchasing an additional 1,416 shares in the last quarter. GAMMA Investing LLC raised its position in ArriVent BioPharma by 3,730.0% in the 1st quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock valued at $500,000 after purchasing an additional 2,611 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in ArriVent BioPharma during the 4th quarter worth about $73,000. KLP Kapitalforvaltning AS purchased a new position in shares of ArriVent BioPharma in the 4th quarter valued at $83,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of ArriVent BioPharma by 34.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock valued at $207,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 9.48% of the company's stock.
ArriVent BioPharma Company Profile
(
Get Free Report)
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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