ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated by Analysts at B. Riley

B. Riley began coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $37.00 price objective on the stock.

AVBP has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research report on Friday, March 7th. Guggenheim assumed coverage on ArriVent BioPharma in a report on Monday, March 10th. They set a “buy” rating and a $45.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Stock Performance

Shares of AVBP stock opened at $19.54 on Thursday. The stock has a 50 day moving average price of $25.03 and a 200 day moving average price of $26.77. ArriVent BioPharma has a 52-week low of $14.35 and a 52-week high of $36.37. The firm has a market capitalization of $664.67 million, a P/E ratio of -7.60 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.18. As a group, sell-side analysts forecast that ArriVent BioPharma will post -2.74 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of ArriVent BioPharma by 153.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock valued at $4,756,000 after acquiring an additional 122,641 shares during the period. The Manufacturers Life Insurance Company bought a new position in ArriVent BioPharma in the third quarter worth about $240,000. FMR LLC lifted its position in shares of ArriVent BioPharma by 8.7% during the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after buying an additional 169,514 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ArriVent BioPharma by 32.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company’s stock valued at $516,000 after buying an additional 5,397 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of ArriVent BioPharma by 168.9% in the 3rd quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock worth $384,000 after buying an additional 10,269 shares during the last quarter. Institutional investors own 9.48% of the company’s stock.

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.