ArriVent BioPharma (NASDAQ:AVBP) Coverage Initiated by Analysts at Jones Trading

Analysts at Jones Trading assumed coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Jones Trading’s price objective would indicate a potential upside of 95.41% from the company’s previous close.

AVBP has been the subject of a number of other research reports. HC Wainwright increased their price target on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. B. Riley began coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They set a “buy” rating and a $37.00 price target for the company. Finally, Guggenheim began coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $39.29.

ArriVent BioPharma Trading Down 1.9%

Shares of NASDAQ:AVBP opened at $20.47 on Tuesday. ArriVent BioPharma has a 52 week low of $15.47 and a 52 week high of $36.37. The company’s 50 day moving average is $19.16 and its two-hundred day moving average is $24.29. The company has a market cap of $700.34 million, a PE ratio of -5.43 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.24). As a group, equities research analysts expect that ArriVent BioPharma will post -2.74 EPS for the current year.

Institutional Trading of ArriVent BioPharma

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of ArriVent BioPharma in the 1st quarter worth $189,000. Woodline Partners LP lifted its stake in shares of ArriVent BioPharma by 0.4% in the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after acquiring an additional 576 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of ArriVent BioPharma in the 1st quarter worth $266,000. Infinitum Asset Management LLC lifted its stake in shares of ArriVent BioPharma by 25.7% in the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock worth $38,205,000 after acquiring an additional 422,315 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of ArriVent BioPharma by 46.3% in the first quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock valued at $1,134,000 after purchasing an additional 19,427 shares during the period. Institutional investors and hedge funds 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.