Analysts Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) PT at $39.40

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $39.00.

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

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $18.28 on Thursday. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37. The business’s 50 day moving average is $24.57 and its two-hundred day moving average is $26.56. The stock has a market capitalization of $621.81 million, a P/E ratio of -7.11 and a beta of 1.00.

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

Institutional Trading of ArriVent BioPharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new position in ArriVent BioPharma during the 4th quarter worth $1,117,000. California State Teachers Retirement System increased its stake in shares of ArriVent BioPharma by 561.3% during 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. Infinitum Asset Management LLC bought a new stake in shares of ArriVent BioPharma in the fourth quarter valued at about $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in ArriVent BioPharma in the fourth quarter worth about $218,000. Finally, Woodline Partners LP grew its holdings in ArriVent BioPharma by 20.5% during the 4th quarter. Woodline Partners LP now owns 145,797 shares of the company’s stock worth $3,884,000 after acquiring an additional 24,853 shares in the last quarter. Institutional investors own 9.48% of the company’s stock.

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.