ArriVent BioPharma’s (AVBP) Buy Rating Reiterated at HC Wainwright

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $36.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 28.21% from the company’s previous close.

Several other equities analysts have also recently commented on the company. The Goldman Sachs Group increased their target price on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. 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, September 10th. Finally, Citigroup boosted their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Stock Down 11.9 %

Shares of ArriVent BioPharma stock opened at $28.08 on Friday. ArriVent BioPharma has a twelve month low of $14.35 and a twelve month high of $36.37. The company has a fifty day moving average price of $28.02 and a 200 day moving average price of $22.96.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). Equities research analysts expect that ArriVent BioPharma will post -3.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in shares of ArriVent BioPharma in the 1st quarter worth approximately $83,000. American International Group Inc. acquired a new stake in ArriVent BioPharma in the first quarter worth $87,000. The Manufacturers Life Insurance Company bought a new stake in ArriVent BioPharma in the third quarter valued at $240,000. SG Americas Securities LLC bought a new position in shares of ArriVent BioPharma during the third quarter worth about $280,000. Finally, Rhumbline Advisers increased 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 worth $236,000 after acquiring an additional 2,942 shares during the period. Institutional investors 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.