ArriVent BioPharma (NASDAQ:AVBP) Price Target Increased to $36.00 by Analysts at Citigroup

ArriVent BioPharma (NASDAQ:AVBP) had its target price upped by Citigroup from $30.00 to $36.00 in a report released on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

AVBP has been the subject of a number of other research reports. Oppenheimer restated an outperform rating and issued a $39.00 target price (up previously from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday. The Goldman Sachs Group raised their price objective on ArriVent BioPharma from $28.00 to $38.00 and gave the stock a buy rating in a research note on Tuesday. Finally, HC Wainwright upped their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the company a buy rating in a research report on Tuesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ArriVent BioPharma presently has a consensus rating of Buy and a consensus price target of $36.80.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock opened at $25.36 on Wednesday. The business has a fifty day moving average of $22.56 and a two-hundred day moving average of $19.76. ArriVent BioPharma has a twelve month low of $14.35 and a twelve month high of $30.99.

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

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors and hedge funds have recently modified their holdings of AVBP. Hhlr Advisors LTD. purchased a new position in ArriVent BioPharma during the first quarter valued at approximately $70,174,000. Vanguard Group Inc. acquired a new position in shares of ArriVent BioPharma in the 1st quarter valued at $11,586,000. Altitude Crest Partners Inc. purchased a new stake in ArriVent BioPharma during the first quarter worth $9,922,000. Novo Holdings A S grew its position in ArriVent BioPharma by 39.3% during the second quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $27,825,000 after buying an additional 422,860 shares during the period. Finally, Farallon Capital Management LLC purchased a new position in ArriVent BioPharma in the first quarter valued at $2,711,000. Institutional investors and hedge funds 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.