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

HC Wainwright reissued their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report released on Friday morning,Benzinga reports. They currently have a $36.00 price objective on the stock.

AVBP has been the topic of several other reports. The Goldman Sachs Group upped their price objective on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Finally, Citigroup upped their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $36.80.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock traded down $0.87 during trading hours on Friday, hitting $27.21. 293,330 shares of the stock traded hands, compared to its average volume of 173,919. The firm’s 50-day moving average price is $28.01 and its two-hundred day moving average price is $23.03. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). As a group, analysts expect that ArriVent BioPharma will post -3.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of ArriVent BioPharma during the 1st quarter valued at $11,586,000. AlphaCentric Advisors LLC raised its holdings in ArriVent BioPharma by 3.6% in the 2nd quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock worth $1,595,000 after purchasing an additional 3,000 shares during the period. BNP Paribas Financial Markets bought a new position in ArriVent BioPharma in the 1st quarter worth $83,000. Novo Holdings A S raised its holdings in ArriVent BioPharma by 39.3% in the 2nd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $27,825,000 after purchasing an additional 422,860 shares during the period. Finally, American International Group Inc. bought a new position in ArriVent BioPharma in the 1st quarter worth $87,000. 9.48% of the stock is owned by institutional investors.

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.