ArriVent BioPharma (NASDAQ:AVBP) PT Raised to $36.00

ArriVent BioPharma (NASDAQ:AVBP) had its price target hoisted by investment analysts at Citigroup from $30.00 to $36.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 51.32% from the company’s current price.

Several other analysts have also weighed in on AVBP. The Goldman Sachs Group increased their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer restated an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of ArriVent BioPharma in a report on Tuesday. Finally, HC Wainwright upped their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP opened at $23.79 on Wednesday. The stock’s fifty day moving average is $22.81 and its 200 day moving average is $19.82. ArriVent BioPharma has a fifty-two week low of $14.35 and a fifty-two week high of $30.99.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). As a group, equities analysts predict that ArriVent BioPharma will post -3.03 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Several hedge funds have recently bought and sold shares of the business. Hhlr Advisors LTD. bought a new position in shares of ArriVent BioPharma during the 1st quarter worth $70,174,000. Novo Holdings A S grew its position 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 worth $27,825,000 after buying an additional 422,860 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of ArriVent BioPharma during the 1st quarter worth $11,586,000. Altitude Crest Partners Inc. bought a new position in shares of ArriVent BioPharma during the 1st quarter worth $9,922,000. Finally, Farallon Capital Management LLC bought a new position in shares of ArriVent BioPharma during the 1st quarter worth $2,711,000. Institutional investors 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.