B. Riley Begins Coverage on ArriVent BioPharma (NASDAQ:AVBP)

B. Riley began coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $37.00 price target on the stock. B. Riley’s price target indicates a potential upside of 89.55% from the stock’s current price.

AVBP has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $39.00 price objective on shares of ArriVent BioPharma in a research note on Friday, March 7th. Guggenheim assumed coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Trading Down 0.1 %

Shares of AVBP stock opened at $19.52 on Thursday. The company has a market capitalization of $663.99 million, a PE ratio of -7.60 and a beta of 1.00. The firm has a fifty day simple moving average of $24.92 and a 200-day simple moving average of $26.72. ArriVent BioPharma has a twelve month low of $14.35 and a twelve month high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last announced its 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. Equities research analysts predict that ArriVent BioPharma will post -2.74 EPS for the current year.

Institutional Trading of ArriVent BioPharma

A number of large investors have recently modified their holdings of the company. MetLife Investment Management LLC increased its holdings in shares of ArriVent BioPharma by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after acquiring an additional 1,110 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ArriVent BioPharma in the 4th quarter worth about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ArriVent BioPharma by 8.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock worth $456,000 after acquiring an additional 1,327 shares during the period. Tower Research Capital LLC TRC grew its position in ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after buying an additional 1,416 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in ArriVent BioPharma by 17.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company’s stock valued at $293,000 after buying an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

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.