ArriVent BioPharma (NASDAQ:AVBP) Earns “Buy” Rating from HC Wainwright

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $39.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 78.33% from the stock’s current price.

ArriVent BioPharma Stock Up 0.3 %

AVBP stock opened at $21.87 on Friday. The firm has a market cap of $743.93 million, a PE ratio of -8.51 and a beta of 1.00. The business has a 50 day moving average of $26.10 and a 200-day moving average of $27.09. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data 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 expect that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Several hedge funds have recently added to or reduced their stakes in the stock. Infinitum Asset Management LLC purchased a new stake in shares of ArriVent BioPharma during the 4th quarter worth approximately $43,794,000. Suvretta Capital Management LLC grew its holdings in ArriVent BioPharma by 21.7% during the fourth quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after purchasing an additional 400,838 shares during the period. Geode Capital Management LLC increased its position in ArriVent BioPharma by 154.2% in the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock worth $14,036,000 after buying an additional 362,221 shares during the last quarter. State Street Corp raised its stake in shares of ArriVent BioPharma by 210.4% in the third quarter. State Street Corp now owns 476,809 shares of the company’s stock valued at $11,205,000 after buying an additional 323,186 shares during the period. Finally, FMR LLC lifted its position in shares of ArriVent BioPharma by 8.7% during the 3rd 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. 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.