ArriVent BioPharma's (AVBP) "Buy" Rating Reaffirmed at HC Wainwright

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $40.00 price objective on the stock. HC Wainwright's price objective suggests a potential upside of 85.53% from the company's current price.

A number of other research firms also recently commented on AVBP. Wall Street Zen downgraded shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. Jones Trading initiated coverage on ArriVent BioPharma in a report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price target on the stock. The Goldman Sachs Group upgraded ArriVent BioPharma to a "buy" rating and set a $33.00 price objective on the stock in a report on Thursday, July 10th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $44.00 price target (up previously from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $39.29.

ArriVent BioPharma Trading Up 0.0%

NASDAQ:AVBP traded up $0.01 on Tuesday, reaching $21.56. 29,181 shares of the stock traded hands, compared to its average volume of 234,871. The company's fifty day simple moving average is $21.91 and its 200 day simple moving average is $22.40. The company has a market capitalization of $737.57 million, a price-to-earnings ratio of -5.72 and a beta of 1.20. 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 issued its quarterly earnings data 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). Equities analysts anticipate that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in shares of ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after buying an additional 1,416 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ArriVent BioPharma by 3,730.0% during the first quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock valued at $500,000 after buying an additional 2,611 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in ArriVent BioPharma during the 4th quarter valued at $73,000. KLP Kapitalforvaltning AS purchased a new position in shares of ArriVent BioPharma in the 4th quarter valued at about $83,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $218,000. 9.48% of the stock is 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.

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