HC Wainwright Raises ArriVent BioPharma (NASDAQ:AVBP) Price Target to $36.00

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

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

ArriVent BioPharma Trading Down 1.0 %

Shares of NASDAQ AVBP opened at $27.73 on Tuesday. The company has a 50-day simple moving average of $22.38 and a 200-day simple moving average of $19.70. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $30.99.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, hitting the consensus estimate of ($0.65). As a group, analysts expect that ArriVent BioPharma will post -3.03 EPS for the current year.

Institutional Trading of ArriVent BioPharma

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after acquiring an additional 2,942 shares during the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of ArriVent BioPharma by 3.6% in the 2nd quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after purchasing an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of ArriVent BioPharma in the 1st quarter valued at about $83,000. American International Group Inc. purchased a new stake in shares of ArriVent BioPharma during the 1st quarter worth about $87,000. Finally, Bank of New York Mellon Corp increased its position 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 worth $554,000 after purchasing an additional 7,140 shares in the last quarter. 9.48% of the stock is currently 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.