ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated by Analysts at Guggenheim

Equities researchers at Guggenheim initiated coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Guggenheim’s target price suggests a potential upside of 105.76% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, ArriVent BioPharma currently has a consensus rating of “Buy” and an average target price of $39.40.

ArriVent BioPharma Trading Up 0.3 %

Shares of AVBP opened at $21.87 on Monday. The company has a market cap of $743.93 million, a price-to-earnings ratio of -8.51 and a beta of 1.00. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37. The company’s fifty day simple moving average is $26.10 and its 200 day simple moving average is $27.11.

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

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC boosted its position in shares of ArriVent BioPharma by 21.7% in the fourth quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after acquiring an additional 400,838 shares during the period. FMR LLC boosted its position in shares of ArriVent BioPharma by 8.7% in the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after acquiring an additional 169,514 shares during the period. Octagon Capital Advisors LP boosted its position in shares of ArriVent BioPharma by 4.2% in the fourth quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company’s stock valued at $54,862,000 after acquiring an additional 83,000 shares during the period. Infinitum Asset Management LLC bought a new stake in shares of ArriVent BioPharma in the fourth quarter valued at about $43,794,000. Finally, Novo Holdings A S boosted its position in shares of ArriVent BioPharma by 1.0% in the fourth quarter. Novo Holdings A S now owns 1,520,627 shares of the company’s stock valued at $40,510,000 after acquiring an additional 15,312 shares during the period. 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.