ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Has Average Price Target of $27.44 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on ArriVent BioPharma, with nine buy ratings, one hold, and one sell among 11 firms. The average 12-month price target is $27.44.
• Several analysts recently cut their price targets sharply, with updated targets ranging from $18 to $27, although the firms retained buy ratings.
• AVBP opened at $16.79, below its 50-day and 200-day moving averages, while its latest quarterly loss of $1.05 per share was wider than the expected $0.99 loss. Institutional investors own about 9.48% of the stock.

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $27.44.

Several research analysts recently commented on the stock. Jefferies Financial Group set a $18.00 target price on shares of ArriVent BioPharma in a research note on Tuesday, October 6th. JonesTrading decreased their price objective on shares of ArriVent BioPharma from $45.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, October 7th. Guggenheim lowered their price objective on shares of ArriVent BioPharma from $45.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, October 7th. Truist Financial lowered their price target on ArriVent BioPharma from $45.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, October 6th. Finally, HC Wainwright lowered their price target on ArriVent BioPharma from $47.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, October 8th.

ArriVent BioPharma Price Performance

AVBP opened at $16.79 on Friday. The stock's 50 day simple moving average is $27.62 and its 200 day simple moving average is $29.15. ArriVent BioPharma has a 1 year low of $11.36 and a 1 year high of $35.83. The firm has a market cap of $827.88 million, a price-to-earnings ratio of -4.64 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.06). As a group, sell-side analysts anticipate that ArriVent BioPharma will post -4.05 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Several hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in shares of ArriVent BioPharma during the third quarter valued at approximately $2,032,000. Tidal Investments LLC bought a new stake in ArriVent BioPharma in the second quarter valued at $1,981,000. Engineers Gate Manager LP bought a new stake in ArriVent BioPharma in the second quarter valued at $773,000. Arizona State Retirement System bought a new stake in ArriVent BioPharma in the second quarter valued at $233,000. Finally, Montanova Capital LLC increased its position in ArriVent BioPharma by 2.6% during the 2nd quarter. Montanova Capital LLC now owns 4,515,531 shares of the company's stock valued at $156,870,000 after purchasing an additional 114,448 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision medicines for patients with genetically defined cancers. The company seeks to identify promising therapies developed in other regions and advance them through clinical development and regulatory approval in the United States and other markets.

ArriVent's lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor designed to target specific EGFR mutations in non-small cell lung cancer, including EGFR exon 20 insertion mutations.

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