HC Wainwright Reaffirms Buy Rating for ArriVent BioPharma (NASDAQ:AVBP)

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $36.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 32.30% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Citigroup increased their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. The Goldman Sachs Group increased their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $39.00 price objective (up previously from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $27.21 on Friday. The firm has a fifty day simple moving average of $28.01 and a two-hundred day simple moving average of $23.08. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.65). As a group, analysts predict that ArriVent BioPharma will post -3.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in ArriVent BioPharma by 30.1% in the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after acquiring an additional 2,942 shares during the last quarter. AlphaCentric Advisors LLC lifted its holdings in shares of ArriVent BioPharma by 3.6% during the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after purchasing an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of ArriVent BioPharma during the first quarter valued at $83,000. American International Group Inc. bought a new stake in ArriVent BioPharma in the 1st quarter worth about $87,000. Finally, Novo Holdings A S raised its position in ArriVent BioPharma by 0.4% in the 3rd quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock worth $35,375,000 after buying an additional 5,315 shares during the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

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.