Brokerages Set ArriVent BioPharma, Inc. (NASDAQ:AVBP) Target Price at $39.40

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) have been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $39.00.

AVBP has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. B. Riley started coverage on ArriVent BioPharma in a research report on Thursday. They set a “buy” rating and a $37.00 price target for the company. Finally, 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 on the stock.

ArriVent BioPharma Stock Down 0.1 %

NASDAQ:AVBP opened at $19.52 on Thursday. The company has a market cap of $663.99 million, a P/E ratio of -7.60 and a beta of 1.00. ArriVent BioPharma has a twelve month low of $14.35 and a twelve month 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 announced its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.18. As a group, analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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