ArriVent BioPharma (NASDAQ:AVBP) Price Target Raised to $36.00

ArriVent BioPharma (NASDAQ:AVBP) had its price objective lifted by investment analysts at HC Wainwright from $30.00 to $36.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 29.82% from the stock’s previous close.

Separately, Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 target price on shares of ArriVent BioPharma in a report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.60.

ArriVent BioPharma Trading Down 1.0 %

NASDAQ:AVBP opened at $27.73 on Tuesday. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $30.99. The stock has a fifty day moving average price of $22.38 and a two-hundred day moving average price of $19.70.

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

Institutional Investors Weigh In On ArriVent BioPharma

A number of large investors have recently added to or reduced their stakes in AVBP. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma during the first quarter worth about $83,000. American International Group Inc. purchased a new position in shares of ArriVent BioPharma during the 1st quarter worth approximately $87,000. Rhumbline Advisers raised its position in shares of ArriVent BioPharma by 30.1% during the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after purchasing an additional 2,942 shares during the last quarter. Blackstone Inc. purchased a new stake in ArriVent BioPharma in the 1st quarter valued at approximately $446,000. Finally, Bank of New York Mellon Corp grew its holdings in ArriVent BioPharma by 31.4% during the 2nd 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 during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

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.