ArriVent BioPharma (NASDAQ:AVBP) Receives Outperform Rating from Oppenheimer

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “outperform” rating restated by research analysts at Oppenheimer in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $39.00 price target on the stock, up from their prior price target of $35.00. Oppenheimer’s price objective would indicate a potential upside of 39.39% from the company’s current price.

Several other brokerages have also issued reports on AVBP. The Goldman Sachs Group boosted their target price on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday. HC Wainwright lifted their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $35.60.

ArriVent BioPharma Trading Up 0.9 %

Shares of NASDAQ AVBP traded up $0.25 during mid-day trading on Tuesday, reaching $27.98. 235,527 shares of the company’s stock were exchanged, compared to its average volume of 140,838. The firm has a 50-day moving average price of $22.38 and a two-hundred day moving average price of $19.70. ArriVent BioPharma has a 52 week low of $14.35 and a 52 week high of $30.99.

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

Institutional Investors Weigh In On ArriVent BioPharma

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma in the 1st quarter valued at approximately $83,000. American International Group Inc. acquired a new position in shares of ArriVent BioPharma during the 1st quarter worth about $87,000. Rhumbline Advisers boosted its position in shares of 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 during the period. Blackstone Inc. acquired a new position in ArriVent BioPharma during the first quarter worth approximately $446,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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.

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.