ArriVent BioPharma (NASDAQ:AVBP) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP - Free Report) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $36.00 target price on the stock.

A number of other equities research analysts have also recently commented on AVBP. The Goldman Sachs Group raised their price objective on ArriVent BioPharma from $28.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Citigroup raised their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Finally, Oppenheimer reissued an "outperform" rating and issued a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $36.80.

ArriVent BioPharma Stock Down 3.1 %

Shares of NASDAQ:AVBP traded down $0.87 during trading on Friday, hitting $27.21. 293,330 shares of the company's stock were exchanged, compared to its average volume of 173,919. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37. The firm has a 50-day moving average price of $28.02 and a two-hundred day moving average price of $22.96.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, meeting analysts' consensus estimates of ($0.65). On average, sell-side analysts forecast that ArriVent BioPharma will post -3.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of ArriVent BioPharma by 210.4% in the third quarter. State Street Corp now owns 476,809 shares of the company's stock valued at $11,205,000 after purchasing an additional 323,186 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in shares of ArriVent BioPharma by 7.7% during the third quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company's stock valued at $43,361,000 after buying an additional 132,459 shares during the period. MetLife Investment Management LLC increased its position in shares of ArriVent BioPharma by 168.9% in the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company's stock worth $384,000 after acquiring an additional 10,269 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in ArriVent BioPharma by 32.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company's stock valued at $516,000 after purchasing an additional 5,397 shares in the last quarter. Finally, FMR LLC grew its holdings in ArriVent BioPharma by 8.7% during the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company's stock valued at $49,813,000 after purchasing an additional 169,514 shares in 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.