ArriVent BioPharma (NASDAQ:AVBP) Given Buy Rating at HC Wainwright

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $40.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 90.29% from the stock's current price.

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

ArriVent BioPharma Trading Down 2.0%

Shares of NASDAQ:AVBP traded down $0.43 during mid-day trading on Tuesday, reaching $21.02. The stock had a trading volume of 52,632 shares, compared to its average volume of 252,677. The company has a market cap of $719.09 million, a P/E ratio of -5.58 and a beta of 1.20. ArriVent BioPharma has a 1 year low of $15.47 and a 1 year high of $36.37. The business's 50 day moving average price is $22.09 and its 200 day moving average price is $22.31.

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

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Woodline Partners LP raised its holdings in shares of ArriVent BioPharma by 0.4% in the first quarter. Woodline Partners LP now owns 146,373 shares of the company's stock worth $2,706,000 after buying an additional 576 shares during the period. MetLife Investment Management LLC raised its holdings in shares of ArriVent BioPharma by 6.8% in the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company's stock worth $465,000 after buying an additional 1,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ArriVent BioPharma by 8.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock worth $456,000 after buying an additional 1,327 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of ArriVent BioPharma by 773.8% in the fourth 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 period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of ArriVent BioPharma by 17.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock worth $293,000 after buying an additional 1,620 shares during the period. 9.48% of the stock is currently owned by hedge funds and other 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.