Oppenheimer Reaffirms Outperform Rating for ArriVent BioPharma (NASDAQ:AVBP)

Oppenheimer restated their outperform rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note published on Thursday morning, Benzinga reports. They currently have a $35.00 price objective on the stock.

Separately, HC Wainwright restated a buy rating and set a $25.00 price objective on shares of ArriVent BioPharma in a research note on Thursday, June 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $31.40.

ArriVent BioPharma Price Performance

NASDAQ AVBP opened at $24.36 on Thursday. The stock’s fifty day moving average price is $19.80 and its 200 day moving average price is $19.19. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $25.95.

ArriVent BioPharma (NASDAQ:AVBP) last announced 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). Sell-side analysts forecast that ArriVent BioPharma will post -2.91 EPS for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in ArriVent BioPharma in the 1st quarter worth approximately $83,000. American International Group Inc. purchased a new stake in ArriVent BioPharma during the first quarter worth $87,000. Rhumbline Advisers boosted its holdings in ArriVent BioPharma by 30.1% during the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after buying an additional 2,942 shares in the last quarter. Blackstone Inc. acquired a new stake in ArriVent BioPharma during the first quarter valued at $446,000. Finally, Bank of New York Mellon Corp increased its holdings in ArriVent BioPharma by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after buying an additional 7,140 shares in the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

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.