ArriVent BioPharma, Inc. (NASDAQ:AVBP) Given Average Rating of "Buy" by Analysts

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) have been assigned an average rating of "Buy" from the six ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $39.00.

Several equities analysts have commented on AVBP shares. B. Riley initiated coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 target price on the stock. Guggenheim started coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $39.00 target price on shares of ArriVent BioPharma in a report on Friday, March 7th.

ArriVent BioPharma Trading Up 1.3 %

Shares of ArriVent BioPharma stock traded up $0.24 during trading on Monday, hitting $18.14. 179,598 shares of the stock were exchanged, compared to its average volume of 170,960. The company has a fifty day moving average price of $21.15 and a 200-day moving average price of $25.71. The stock has a market capitalization of $617.05 million, a price-to-earnings ratio of -7.06 and a beta of 1.66. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.18. Equities research analysts forecast that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. 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 acquiring an additional 1,110 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in ArriVent BioPharma in the 4th quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ArriVent BioPharma by 8.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock worth $456,000 after purchasing an additional 1,327 shares during the period. Tower Research Capital LLC TRC increased 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 worth $43,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock valued at $293,000 after purchasing an additional 1,620 shares in the last quarter. 9.48% of the stock is 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.