ArriVent BioPharma, Inc. (NASDAQ:AVBP) Given Average Rating of “Buy” by Brokerages

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $39.40.

AVBP has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $39.00 price target on shares of ArriVent BioPharma in a report on Friday, March 7th. Guggenheim initiated coverage on ArriVent BioPharma in a report on Monday, March 10th. They issued a “buy” rating and a $45.00 price target for the company. Finally, B. Riley initiated coverage on ArriVent BioPharma in a report on Thursday. They issued a “buy” rating and a $37.00 price target for the company.

Hedge Funds Weigh In On ArriVent BioPharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVBP. MetLife Investment Management LLC lifted its position in shares of ArriVent BioPharma by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after purchasing an additional 1,110 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ArriVent BioPharma during the fourth quarter worth about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ArriVent BioPharma by 8.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock worth $456,000 after purchasing an additional 1,327 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of ArriVent BioPharma by 773.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $43,000 after purchasing an additional 1,416 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company’s stock worth $293,000 after purchasing an additional 1,620 shares during the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Performance

AVBP stock opened at $19.60 on Thursday. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37. The stock’s 50 day moving average price is $25.18 and its 200 day moving average price is $26.82. The firm has a market cap of $666.71 million, a P/E ratio of -7.63 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.18. On average, research analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current year.

ArriVent BioPharma Company Profile

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.