Guggenheim Begins Coverage on ArriVent BioPharma (NASDAQ:AVBP)

Guggenheim assumed coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report issued on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $45.00 price target on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, ArriVent BioPharma currently has an average rating of “Buy” and a consensus price target of $39.40.

ArriVent BioPharma Trading Down 0.1 %

Shares of ArriVent BioPharma stock opened at $22.45 on Monday. The stock has a 50 day moving average of $25.91 and a 200 day moving average of $27.09. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $36.37. The firm has a market cap of $763.66 million, a PE ratio of -8.74 and a beta of 1.02.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.18. As a group, equities research analysts forecast that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ArriVent BioPharma in the 4th quarter worth $31,000. Tower Research Capital LLC TRC boosted its position in shares of ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $43,000 after purchasing an additional 1,416 shares in the last quarter. Virtus ETF Advisers LLC acquired a new stake in shares of ArriVent BioPharma in the 4th quarter worth $73,000. KLP Kapitalforvaltning AS purchased a new position in ArriVent BioPharma in the 4th quarter worth $83,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in ArriVent BioPharma in the 4th quarter worth $190,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

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.