ArriVent BioPharma (NASDAQ:AVBP) Upgraded at B. Riley

B. Riley upgraded shares of ArriVent BioPharma (NASDAQ:AVBP) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on AVBP. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price target on shares of ArriVent BioPharma in a research report on Friday, March 7th. Guggenheim started coverage on ArriVent BioPharma in a research report on Monday, March 10th. They set a “buy” rating and a $45.00 price target for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $39.00.

ArriVent BioPharma Trading Down 0.1 %

Shares of NASDAQ:AVBP opened at $19.52 on Wednesday. The stock has a market capitalization of $663.99 million, a P/E ratio of -7.60 and a beta of 1.00. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37. The business has a 50-day moving average price of $24.92 and a two-hundred day moving average price of $26.72.

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

Institutional Investors Weigh In On ArriVent BioPharma

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in ArriVent BioPharma by 561.3% in the 4th quarter. California State Teachers Retirement System now owns 13,649 shares of the company’s stock valued at $364,000 after acquiring an additional 11,585 shares during the period. Infinitum Asset Management LLC acquired a new position in ArriVent BioPharma in the 4th quarter valued at $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in ArriVent BioPharma in the 4th quarter valued at $218,000. Woodline Partners LP grew its holdings in ArriVent BioPharma by 20.5% in the 4th quarter. Woodline Partners LP now owns 145,797 shares of the company’s stock valued at $3,884,000 after buying an additional 24,853 shares in the last quarter. Finally, Suvretta Capital Management LLC grew its holdings in ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after buying an additional 400,838 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.