ArriVent BioPharma, Inc. (NASDAQ:AVBP) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give ArriVent BioPharma a “Moderate Buy” consensus: Eight of ten analysts rate the stock a buy, while one rates it a hold and one a sell. The average 12-month price target is $44.86, above the recent $31.14 share price.
• Institutional investors and hedge funds own 9.48% of the company, with several firms recently increasing their positions or initiating new stakes.
• ArriVent shares were recently down 0.7%, and the company reported a quarterly loss of $1.05 per share, missing the $0.99 consensus estimate. Analysts expect a full-year loss of approximately $4.01 per share.

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $44.8571.

A number of research firms recently issued reports on AVBP. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Citigroup reduced their price target on ArriVent BioPharma from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. HC Wainwright boosted their price target on ArriVent BioPharma from $44.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, BTIG Research reiterated a "buy" rating and set a $42.00 price objective on shares of ArriVent BioPharma in a research note on Thursday, August 13th.

Hedge Funds Weigh In On ArriVent BioPharma

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in ArriVent BioPharma by 9,747.6% in the third 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $40,000 after purchasing an additional 438 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of ArriVent BioPharma by 31.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock worth $56,000 after purchasing an additional 609 shares during the last quarter. Group One Trading LLC bought a new stake in shares of ArriVent BioPharma in the 4th quarter valued at about $57,000. Finally, Quantbot Technologies LP acquired a new stake in ArriVent BioPharma in the 2nd quarter valued at about $59,000. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Trading Down 0.7%

Shares of AVBP opened at $31.14 on Thursday. ArriVent BioPharma has a 12 month low of $17.00 and a 12 month high of $35.83. The firm has a fifty day simple moving average of $31.66 and a 200 day simple moving average of $28.27. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.60 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, research analysts predict that ArriVent BioPharma will post -4.01 earnings per share for the current fiscal year.

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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