ArriVent BioPharma (NASDAQ:AVBP) Upgraded at BTIG Research

by · The Markets Daily

BTIG Research upgraded shares of ArriVent BioPharma (NASDAQ:AVBP – Free Report) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Several other research analysts have also issued reports on AVBP. Cantor Fitzgerald began coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating on the stock. Citigroup raised their price target on ArriVent BioPharma from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Oppenheimer restated an “outperform” rating and set a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ArriVent BioPharma has an average rating of “Moderate Buy” and an average price target of $40.78.

Check Out Our Latest Research Report on ArriVent BioPharma

ArriVent BioPharma Stock Down 0.8%

NASDAQ:AVBP opened at $23.90 on Wednesday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.42 and a beta of 0.99. ArriVent BioPharma has a 52 week low of $15.47 and a 52 week high of $27.22. The firm has a 50 day moving average of $22.60 and a 200 day moving average of $21.09.

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.09. As a group, analysts expect that ArriVent BioPharma will post -2.74 EPS for the current year.

Institutional Trading of ArriVent BioPharma

Several large investors have recently added to or reduced their stakes in AVBP. Bessemer Group Inc. acquired a new position in shares of ArriVent BioPharma in the third quarter valued at about $26,000. Russell Investments Group Ltd. lifted its holdings in shares of ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after purchasing an additional 2,047 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ArriVent BioPharma by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after purchasing an additional 438 shares during the period. BNP Paribas Financial Markets boosted its position in ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares during the last quarter. Finally, Group One Trading LLC purchased a new stake in ArriVent BioPharma in the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

About ArriVent BioPharma

(Get Free Report)

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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.

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