Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Target Price at $39.00

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has received a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $39.00.

Several brokerages have recently commented on AVBP. Guggenheim initiated coverage on ArriVent BioPharma in a report on Monday, March 10th. They issued a “buy” rating and a $45.00 target price on the stock. B. Riley began coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $39.00 target price on shares of ArriVent BioPharma in a research note on Friday, March 7th.

Hedge Funds Weigh In On ArriVent BioPharma

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in ArriVent BioPharma by 92.1% during the 1st quarter. SG Americas Securities LLC now owns 22,680 shares of the company’s stock worth $419,000 after purchasing an additional 10,873 shares during the last quarter. GAMMA Investing LLC grew its position in shares of ArriVent BioPharma by 3,730.0% during the 1st quarter. GAMMA Investing LLC now owns 2,681 shares of the company’s stock worth $500,000 after buying an additional 2,611 shares during the period. Wellington Management Group LLP bought a new stake in shares of ArriVent BioPharma during the fourth quarter worth approximately $1,117,000. California State Teachers Retirement System lifted its holdings in ArriVent BioPharma by 561.3% in the fourth quarter. California State Teachers Retirement System now owns 13,649 shares of the company’s stock valued at $364,000 after buying an additional 11,585 shares during the period. Finally, Infinitum Asset Management LLC bought a new position in ArriVent BioPharma in the fourth quarter valued at approximately $43,794,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $18.14 on Monday. ArriVent BioPharma has a 52-week low of $14.35 and a 52-week high of $36.37. The business has a fifty day moving average of $20.97 and a two-hundred day moving average of $25.68. The stock has a market cap of $617.05 million, a PE ratio of -7.06 and a beta of 1.66.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.18. Analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current 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.