ArriVent BioPharma (NASDAQ:AVBP) Now Covered by Analysts at B. Riley

Equities research analysts at B. Riley started coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $37.00 price target on the stock. B. Riley’s target price would indicate a potential upside of 88.78% from the company’s current price.

Several other analysts also recently weighed in on AVBP. Guggenheim assumed coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research report on Friday, March 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, ArriVent BioPharma presently has an average rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Stock Up 0.5 %

Shares of ArriVent BioPharma stock opened at $19.60 on Thursday. The stock’s fifty day moving average is $25.18 and its two-hundred day moving average is $26.82. ArriVent BioPharma has a 52 week low of $14.35 and a 52 week high of $36.37. The company has a market capitalization of $666.71 million, a PE ratio of -7.63 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. As a group, research analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ArriVent BioPharma in the 4th quarter worth $31,000. Tower Research Capital LLC TRC raised its holdings in ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $43,000 after purchasing an additional 1,416 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of ArriVent BioPharma during the fourth quarter valued at about $73,000. KLP Kapitalforvaltning AS bought a new stake in shares of ArriVent BioPharma in the 4th quarter valued at about $83,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of ArriVent BioPharma in the 4th quarter worth approximately $190,000. Hedge funds and other 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.