ArriVent BioPharma (NASDAQ:AVBP) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ArriVent BioPharma (NASDAQ:AVBP) in a research report released on Friday,Benzinga reports. They currently have a $39.00 target price on the stock.

ArriVent BioPharma Price Performance

AVBP stock opened at $21.87 on Friday. The company has a 50 day moving average price of $26.20 and a 200 day moving average price of $27.09. ArriVent BioPharma has a fifty-two week low of $14.35 and a fifty-two week high of $36.37. The stock has a market capitalization of $743.93 million, a PE ratio of -8.51 and a beta of 1.00.

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

Institutional Trading of ArriVent BioPharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Infinitum Asset Management LLC bought a new stake in shares of ArriVent BioPharma during the 4th quarter valued at $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in ArriVent BioPharma in the 4th quarter worth $218,000. Woodline Partners LP boosted its stake in ArriVent BioPharma by 20.5% in the 4th quarter. Woodline Partners LP now owns 145,797 shares of the company’s stock worth $3,884,000 after purchasing an additional 24,853 shares during the period. Suvretta Capital Management LLC boosted its stake in ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock worth $59,833,000 after purchasing an additional 400,838 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in ArriVent BioPharma by 186.3% in the 4th quarter. Rafferty Asset Management LLC now owns 27,299 shares of the company’s stock worth $727,000 after purchasing an additional 17,763 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.