ArriVent BioPharma (NASDAQ:AVBP) Research Coverage Started at Guggenheim

Guggenheim began coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $45.00 target price on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $39.00 price target on shares of ArriVent BioPharma in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $39.40.

ArriVent BioPharma Stock Down 0.1 %

NASDAQ AVBP opened at $22.45 on Monday. ArriVent BioPharma has a twelve month low of $14.35 and a twelve month high of $36.37. The firm has a market capitalization of $763.66 million, a PE ratio of -8.74 and a beta of 1.02. The stock’s 50 day moving average is $25.91 and its 200 day moving average is $27.09.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.18. On average, research analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

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