The Goldman Sachs Group Boosts ArriVent BioPharma (NASDAQ:AVBP) Price Target to $38.00

ArriVent BioPharma (NASDAQ:AVBP) had its price target raised by equities research analysts at The Goldman Sachs Group from $28.00 to $38.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 33.01% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $35.00 price objective on shares of ArriVent BioPharma in a research report on Thursday, August 15th. HC Wainwright upped their price target on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $34.80.

ArriVent BioPharma Stock Up 3.0 %

Shares of NASDAQ:AVBP traded up $0.84 during midday trading on Tuesday, reaching $28.57. The company’s stock had a trading volume of 59,411 shares, compared to its average volume of 139,709. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $30.99. The firm has a 50 day moving average of $22.38 and a 200-day moving average 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). On average, equities analysts predict that ArriVent BioPharma will post -3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVBP. BNP Paribas Financial Markets bought a new position in shares of ArriVent BioPharma during the 1st quarter valued at approximately $83,000. Vanguard Group Inc. bought a new position in shares of ArriVent BioPharma in the first quarter worth approximately $11,586,000. American International Group Inc. purchased a new stake in shares of ArriVent BioPharma in the first quarter worth $87,000. Altitude Crest Partners Inc. bought a new stake in shares of ArriVent BioPharma during the 1st quarter valued at $9,922,000. Finally, Hhlr Advisors LTD. purchased a new position in shares of ArriVent BioPharma during the 1st quarter valued at $70,174,000. 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.