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

ArriVent BioPharma (NASDAQ:AVBP) had its price objective boosted by Citigroup from $30.00 to $36.00 in a report released on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. HC Wainwright lifted their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a buy rating in a research report 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 report on Tuesday. Finally, Oppenheimer restated an outperform rating and set a $39.00 target price (up previously from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $36.80.

ArriVent BioPharma Trading Down 0.1 %

AVBP stock opened at $23.76 on Wednesday. The company’s 50 day simple moving average is $22.81 and its 200-day simple moving average is $19.82. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month 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 analysts’ consensus estimates of ($0.65). As a group, analysts predict that ArriVent BioPharma will post -3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors have recently bought and sold shares of the stock. Novo Holdings A S grew its stake in shares of ArriVent BioPharma by 39.3% during the 2nd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $27,825,000 after buying an additional 422,860 shares during the period. Rhumbline Advisers raised its position in shares of ArriVent BioPharma by 30.1% in the 2nd 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. Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 7,140 shares during the last quarter. AlphaCentric Advisors LLC grew its position in ArriVent BioPharma by 3.6% during 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 period. Finally, Farallon Capital Management LLC acquired a new stake in ArriVent BioPharma during the first quarter worth about $2,711,000. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

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.