ArriVent BioPharma (NASDAQ:AVBP) Now Covered by Analysts at Guggenheim

Guggenheim started coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a buy rating and a $45.00 price target on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a research report on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $39.40.

ArriVent BioPharma Stock Down 0.6 %

Shares of AVBP stock opened at $21.73 on Monday. The company has a market capitalization of $739.17 million, a P/E ratio of -8.46 and a beta of 1.00. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $36.37. The firm has a 50-day moving average price of $26.10 and a 200 day moving average price of $27.11.

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, beating analysts’ consensus estimates of ($0.78) by $0.18. As a group, research analysts expect that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC raised its stake in shares of ArriVent BioPharma by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after buying an additional 1,110 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ArriVent BioPharma during the 4th quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ArriVent BioPharma by 8.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock valued at $456,000 after acquiring an additional 1,327 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of 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 purchasing an additional 1,416 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $293,000 after purchasing an additional 1,620 shares during the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

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.