ArriVent BioPharma (NASDAQ:AVBP) Now Covered by B. Riley

Stock analysts at B. Riley started coverage on shares of ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) in a report issued on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $37.00 price target on the stock. B. Riley's price objective indicates a potential upside of 83.08% from the stock's previous close.

AVBP has been the subject of several other research reports. Guggenheim began coverage on shares of ArriVent BioPharma in a report on Monday, March 10th. They set a "buy" rating and a $45.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $39.00 price target on shares of ArriVent BioPharma in a research note on Friday, March 7th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $39.00.

ArriVent BioPharma Stock Up 3.5 %

NASDAQ AVBP traded up $0.69 during trading hours on Thursday, reaching $20.21. The company's stock had a trading volume of 131,400 shares, compared to its average volume of 158,942. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37. The company has a market capitalization of $687.46 million, a price-to-earnings ratio of -7.86 and a beta of 1.00. The firm's 50-day moving average price is $24.82 and its 200-day moving average price is $26.68.

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ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released 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. Equities research analysts anticipate that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AVBP. Wellington Management Group LLP bought a new stake in ArriVent BioPharma during the fourth quarter worth approximately $1,117,000. California State Teachers Retirement System increased its position in shares of ArriVent BioPharma by 561.3% during the 4th quarter. California State Teachers Retirement System now owns 13,649 shares of the company's stock valued at $364,000 after purchasing an additional 11,585 shares during the last quarter. Infinitum Asset Management LLC bought a new position in shares of ArriVent BioPharma during the 4th quarter valued at approximately $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in ArriVent BioPharma during the 4th quarter valued at $218,000. Finally, Woodline Partners LP lifted its position in ArriVent BioPharma by 20.5% in the fourth quarter. Woodline Partners LP now owns 145,797 shares of the company's stock worth $3,884,000 after buying an additional 24,853 shares during the last quarter. Institutional investors 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.