ArriVent BioPharma (NASDAQ:AVBP) Earns Buy Rating from Guggenheim

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Guggenheim in a report released on Tuesday,Benzinga reports. They presently have a $45.00 target price on the stock. Guggenheim's target price suggests a potential upside of 97.15% from the company's current price.

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

ArriVent BioPharma Price Performance

Shares of AVBP stock traded up $0.02 on Tuesday, hitting $22.83. 82,246 shares of the stock traded hands, compared to its average volume of 217,648. The company's fifty day moving average is $21.56 and its 200 day moving average is $23.03. ArriVent BioPharma has a 1-year low of $15.47 and a 1-year high of $36.37. The company has a market capitalization of $780.84 million, a PE ratio of -6.06 and a beta of 1.26.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($1.24). As a group, equities research analysts expect that ArriVent BioPharma will post -2.74 EPS for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its position in ArriVent BioPharma by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock valued at $977,000 after buying an additional 3,069 shares in the last quarter. 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 4,011 shares in the last quarter. Swiss National Bank acquired a new position in shares of ArriVent BioPharma during the fourth quarter valued at approximately $703,000. Finally, Intech Investment Management LLC bought a new stake in ArriVent BioPharma during the fourth quarter worth approximately $394,000. 9.48% of the stock is currently owned by institutional investors.

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.