ArriVent BioPharma (NASDAQ:AVBP) Given Outperform Rating at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report published on Tuesday morning, Benzinga reports. They currently have a $39.00 target price on the stock, up from their prior target price of $35.00.

Other research analysts have also issued reports about the company. HC Wainwright increased their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday. The Goldman Sachs Group raised their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the company a buy rating in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $36.80.

ArriVent BioPharma Trading Down 0.1 %

NASDAQ:AVBP opened at $23.76 on Tuesday. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $30.99. The firm has a 50 day moving average of $22.81 and a 200-day moving average of $19.82.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, hitting the consensus estimate of ($0.65). On average, equities research analysts predict that ArriVent BioPharma will post -3.03 earnings per share for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in ArriVent BioPharma during the first quarter worth about $11,586,000. AlphaCentric Advisors LLC lifted its holdings in ArriVent BioPharma by 3.6% during the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock worth $1,595,000 after acquiring an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma in the first quarter valued at about $83,000. American International Group Inc. bought a new stake in shares of ArriVent BioPharma in the first quarter worth about $87,000. Finally, Novo Holdings A S raised its position in shares of ArriVent BioPharma by 39.3% during the second 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. Institutional investors own 9.48% of the company’s stock.

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.