ArriVent BioPharma (NASDAQ:AVBP) Research Coverage Started at B. Riley

B. Riley initiated coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $37.00 price target on the stock.

A number of other brokerages have also recently issued reports on AVBP. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price on shares of ArriVent BioPharma in a report on Friday, March 7th. Guggenheim began coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They issued a “buy” rating and a $45.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ArriVent BioPharma has an average rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Stock Performance

Shares of AVBP stock opened at $19.52 on Thursday. The firm’s 50-day moving average is $24.92 and its 200-day moving average is $26.72. The stock has a market cap of $663.99 million, a price-to-earnings ratio of -7.60 and a beta of 1.00. ArriVent BioPharma has a 52-week low of $14.35 and a 52-week high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.18. Sell-side analysts predict that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AVBP. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its position in shares of ArriVent BioPharma by 773.8% during the 4th 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 acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $73,000. KLP Kapitalforvaltning AS acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $83,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $190,000. 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.