ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 4.7% - Should You Sell?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) fell 4.7% during trading on Tuesday . The stock traded as low as $19.18 and last traded at $19.27. 30,567 shares were traded during trading, a decline of 81% from the average session volume of 158,940 shares. The stock had previously closed at $20.21.

Analysts Set New Price Targets

Several analysts have issued reports on AVBP shares. Guggenheim initiated coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a "buy" rating and a $45.00 price target for the company. HC Wainwright restated a "buy" rating and set a $39.00 price target on shares of ArriVent BioPharma in a research report on Friday, March 7th. Finally, B. Riley assumed coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They issued a "buy" rating and a $37.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ArriVent BioPharma presently has a consensus rating of "Buy" and a consensus price target of $39.00.

ArriVent BioPharma Price Performance

The stock's 50 day moving average is $24.34 and its 200-day moving average is $26.44. The company has a market capitalization of $644.60 million, a P/E ratio of -7.37 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.18. On average, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

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Institutional Trading of ArriVent BioPharma

A number of hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC boosted its stake in ArriVent BioPharma by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company's stock worth $465,000 after acquiring an additional 1,110 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in ArriVent BioPharma during the 4th quarter valued at approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ArriVent BioPharma by 8.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock valued at $456,000 after buying an additional 1,327 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of ArriVent BioPharma by 17.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock worth $293,000 after acquiring an additional 1,620 shares during the last quarter. Institutional investors 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.