HC Wainwright Reiterates “Buy” Rating for ArriVent BioPharma (NASDAQ:AVBP)

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $36.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 32.30% from the company’s current price.

A number of other research analysts also recently issued reports on AVBP. Citigroup lifted their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $39.00 price target (up from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group increased their price objective on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.80.

ArriVent BioPharma Stock Down 3.1 %

NASDAQ:AVBP opened at $27.21 on Friday. The company has a 50-day moving average of $28.01 and a 200 day moving average of $23.08. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.65). As a group, analysts expect that ArriVent BioPharma will post -3.03 EPS for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in shares of ArriVent BioPharma by 30.1% in 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 last quarter. AlphaCentric Advisors LLC boosted its holdings in ArriVent BioPharma by 3.6% in the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after purchasing an additional 3,000 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in ArriVent BioPharma during the 1st quarter worth about $83,000. American International Group Inc. purchased a new position in shares of ArriVent BioPharma during the 1st quarter valued at about $87,000. Finally, Novo Holdings A S raised its stake in shares of ArriVent BioPharma by 0.4% during the 3rd quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock valued at $35,375,000 after buying an additional 5,315 shares during the last quarter. 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.