ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stock Has Consensus Target Price of $24.56

Key Points

• Analysts rate ArriVent BioPharma a “Moderate Buy”: Nine of 11 analysts recommend buying, while one rates it hold and one sell. The average 12-month price target is $24.56.
• The stock opened at $14.16, within a 52-week range of $11.36 to $35.83; its 50-day and 200-day moving averages were $22.73 and $26.61, respectively.
• ArriVent reported a quarterly loss of $0.81 per share, narrower than analysts’ expected loss of $1.05, and revenue of $5 million versus expectations of $0.8 million.

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.56.

A number of research firms have recently commented on AVBP. Oppenheimer restated an "outperform" rating and issued a $25.00 price objective on shares of ArriVent BioPharma in a research report on Monday, October 26th. Jefferies Financial Group set a $18.00 target price on shares of ArriVent BioPharma in a report on Tuesday, October 6th. JonesTrading lowered their target price on shares of ArriVent BioPharma from $45.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Cantor Fitzgerald restated an "overweight" rating on shares of ArriVent BioPharma in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ArriVent BioPharma in a report on Thursday, October 15th.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $14.16 on Tuesday. The stock has a market cap of $698.23 million, a PE ratio of -3.91 and a beta of 1.66. ArriVent BioPharma has a fifty-two week low of $11.36 and a fifty-two week high of $35.83. The stock has a fifty day moving average of $22.73 and a 200-day moving average of $26.61.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.05) by $0.24. The company had revenue of $5.00 million for the quarter, compared to analysts' expectations of $0.80 million. On average, sell-side analysts predict that ArriVent BioPharma will post -4.04 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its holdings in shares of ArriVent BioPharma by 38.7% in the 3rd quarter. Alps Advisors Inc. now owns 65,315 shares of the company's stock valued at $1,978,000 after acquiring an additional 18,241 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ArriVent BioPharma during the 3rd quarter valued at about $76,000. Profund Advisors LLC grew its holdings in shares of ArriVent BioPharma by 12.8% during the third quarter. Profund Advisors LLC now owns 14,257 shares of the company's stock worth $432,000 after purchasing an additional 1,614 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of ArriVent BioPharma by 21.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,997 shares of the company's stock worth $266,000 after purchasing an additional 1,585 shares in the last quarter. Finally, Moody Aldrich Partners LLC grew its holdings in shares of ArriVent BioPharma by 4.1% during the third quarter. Moody Aldrich Partners LLC now owns 45,852 shares of the company's stock worth $1,388,000 after purchasing an additional 1,808 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors.

About ArriVent BioPharma

ArriVent BioPharma is a clinical-stage biopharmaceutical company focused on developing medicines for people with cancer. The company advances therapies intended to address significant unmet medical needs, with an emphasis on treatments that may offer new options for patients with difficult-to-treat tumors.

Its lead clinical program is furmonertinib, an oral targeted therapy being studied for non-small cell lung cancer with certain epidermal growth factor receptor (EGFR) mutations, including exon 20 insertion mutations.

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