Oppenheimer Begins Coverage on ArriVent BioPharma (NASDAQ:AVBP)

Oppenheimer started coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $35.00 price objective on the stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $25.00 price objective on shares of ArriVent BioPharma in a research note on Thursday, June 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and a consensus price target of $30.40.

ArriVent BioPharma Stock Up 0.4 %

ArriVent BioPharma stock opened at $20.51 on Monday. ArriVent BioPharma has a fifty-two week low of $14.35 and a fifty-two week high of $25.95. The company’s 50 day moving average is $18.73.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.14. On average, sell-side analysts predict that ArriVent BioPharma will post -3.07 EPS for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Hhlr Advisors LTD. acquired a new position in ArriVent BioPharma during the 1st quarter valued at about $70,174,000. Vanguard Group Inc. acquired a new position in ArriVent BioPharma during the 1st quarter valued at approximately $11,586,000. Altitude Crest Partners Inc. purchased a new position in shares of ArriVent BioPharma in the first quarter worth $9,922,000. Farallon Capital Management LLC purchased a new stake in shares of ArriVent BioPharma during the first quarter valued at $2,711,000. Finally, Blackstone Inc. purchased a new stake in shares of ArriVent BioPharma during the first quarter valued at $446,000. 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.