ArriVent BioPharma, Inc. (NASDAQ:AVBP) Given Consensus Recommendation of "Buy" by Brokerages

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has received an average recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.00.

A number of brokerages have weighed in on AVBP. Guggenheim began coverage on ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 target price on the stock. B. Riley started coverage on shares of ArriVent BioPharma in a research report on Thursday. They set a "buy" rating and a $37.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $39.00 price target on shares of ArriVent BioPharma in a report on Friday, March 7th.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Suvretta Capital Management LLC lifted its holdings in shares of ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock worth $59,833,000 after acquiring an additional 400,838 shares during the last quarter. FMR LLC raised its position in ArriVent BioPharma by 8.7% in the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company's stock worth $49,813,000 after purchasing an additional 169,514 shares during the period. Octagon Capital Advisors LP raised its position in ArriVent BioPharma by 4.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company's stock worth $54,862,000 after purchasing an additional 83,000 shares during the period. Infinitum Asset Management LLC bought a new stake in ArriVent BioPharma in the fourth quarter worth $43,794,000. Finally, Novo Holdings A S boosted its position in ArriVent BioPharma by 1.0% during the fourth quarter. Novo Holdings A S now owns 1,520,627 shares of the company's stock valued at $40,510,000 after buying an additional 15,312 shares during the period. Hedge funds and other institutional investors own 9.48% of the company's stock.

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ArriVent BioPharma Trading Up 3.5 %

Shares of ArriVent BioPharma stock traded up $0.69 on Thursday, reaching $20.21. The stock had a trading volume of 131,400 shares, compared to its average volume of 158,942. The business's 50 day moving average is $24.82 and its two-hundred day moving average is $26.68. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37. The company has a market cap of $687.46 million, a P/E ratio of -7.86 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) 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. On average, equities analysts anticipate that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

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.