ArriVent BioPharma (NASDAQ:AVBP) Stock Price Expected to Rise, HC Wainwright Analyst Says

ArriVent BioPharma (NASDAQ:AVBP) had its price target hoisted by investment analysts at HC Wainwright from $36.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 54.09% from the stock’s current price.

ArriVent BioPharma Price Performance

Shares of ArriVent BioPharma stock opened at $25.31 on Wednesday. ArriVent BioPharma has a 52-week low of $14.35 and a 52-week high of $36.37. The company’s fifty day moving average price is $27.11 and its two-hundred day moving average price is $25.96.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVBP. FMR LLC grew its stake in shares of ArriVent BioPharma by 8.7% in the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after purchasing an additional 169,514 shares during the period. Suvretta Capital Management LLC boosted its stake in ArriVent BioPharma by 7.7% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock valued at $43,361,000 after buying an additional 132,459 shares in the last quarter. Novo Holdings A S grew its position in ArriVent BioPharma by 0.4% in the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock valued at $35,375,000 after acquiring an additional 5,315 shares during the period. Geode Capital Management LLC grew its position in ArriVent BioPharma by 154.2% in the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock valued at $14,036,000 after acquiring an additional 362,221 shares during the period. Finally, State Street Corp raised its stake in ArriVent BioPharma by 210.4% during the third quarter. State Street Corp now owns 476,809 shares of the company’s stock worth $11,205,000 after acquiring an additional 323,186 shares in the last quarter. 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.