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

HC Wainwright restated their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report published on Friday,Benzinga reports. The firm currently has a $36.00 price objective on the stock.

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

ArriVent BioPharma Trading Down 3.1 %

AVBP stock traded down $0.87 during trading on Friday, reaching $27.21. The company’s stock had a trading volume of 293,330 shares, compared to its average volume of 173,919. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37. The company’s fifty day moving average is $28.01 and its 200-day moving average is $23.03.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hhlr Advisors LTD. purchased a new position in ArriVent BioPharma in the first quarter worth about $70,174,000. FMR LLC grew its position in ArriVent BioPharma by 8.7% in the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after acquiring an additional 169,514 shares in the last quarter. Suvretta Capital Management LLC grew its position in ArriVent BioPharma by 7.7% in the third quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock worth $43,361,000 after acquiring an additional 132,459 shares in the last quarter. Novo Holdings A S grew its position in ArriVent BioPharma by 0.4% in the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock worth $35,375,000 after acquiring an additional 5,315 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new position in ArriVent BioPharma in the first quarter worth about $11,586,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

About ArriVent BioPharma

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.