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

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “outperform” rating restated by Oppenheimer in a report issued on Tuesday, Benzinga reports. They presently have a $39.00 target price on the stock, up from their previous target price of $35.00. Oppenheimer’s price objective would indicate a potential upside of 39.39% from the company’s previous close.

AVBP has been the subject of a number of other research reports. HC Wainwright boosted their price target on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $35.60.

ArriVent BioPharma Trading Up 0.9 %

Shares of AVBP traded up $0.25 during trading hours on Tuesday, hitting $27.98. 235,527 shares of the stock traded hands, compared to its average volume of 140,838. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $30.99. The business has a fifty day moving average of $22.38 and a 200-day moving average of $19.70.

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

Institutional Trading of ArriVent BioPharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in 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 acquiring an additional 2,942 shares during the period. AlphaCentric Advisors LLC lifted its stake in ArriVent BioPharma by 3.6% in the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after acquiring an additional 3,000 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma during the first quarter valued at approximately $83,000. American International Group Inc. bought a new position in ArriVent BioPharma in the 1st quarter worth approximately $87,000. Finally, Bank of New York Mellon Corp raised its holdings in ArriVent BioPharma by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after acquiring 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.