ArriVent BioPharma (NASDAQ:AVBP) Rating Reiterated by Oppenheimer

Oppenheimer reiterated their outperform rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report report published on Thursday morning, Benzinga reports. Oppenheimer currently has a $35.00 price objective on the stock.

Separately, HC Wainwright restated a buy rating and set a $25.00 price objective on shares of ArriVent BioPharma in a research report on Thursday, June 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $31.40.

ArriVent BioPharma Stock Up 2.1 %

NASDAQ:AVBP opened at $24.36 on Thursday. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $25.95. The company has a 50 day simple moving average of $19.80 and a two-hundred day simple moving average of $19.19.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, hitting the consensus estimate of ($0.65). As a group, equities analysts forecast that ArriVent BioPharma will post -2.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVBP. BNP Paribas Financial Markets purchased a new position in ArriVent BioPharma in the 1st quarter worth $83,000. American International Group Inc. acquired a new stake in shares of ArriVent BioPharma during the 1st quarter worth approximately $87,000. Rhumbline Advisers grew its position in shares of ArriVent BioPharma by 30.1% during the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after acquiring an additional 2,942 shares during the period. Blackstone Inc. purchased a new stake in shares of ArriVent BioPharma in the first quarter valued at approximately $446,000. Finally, Bank of New York Mellon Corp raised its position in ArriVent BioPharma by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock worth $554,000 after acquiring an additional 7,140 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.

About ArriVent BioPharma

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.