ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report)'s share price rose 2.2% during trading on Friday . The stock traded as high as $19.00 and last traded at $18.99. Approximately 59,051 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 162,942 shares. The stock had previously closed at $18.57.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. B. Riley initiated coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 price target on the stock. 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 objective on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a research note on Friday, March 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ArriVent BioPharma currently has an average rating of "Buy" and an average price target of $39.00.
Read Our Latest Research Report on ArriVent BioPharma
ArriVent BioPharma Stock Performance
The firm's 50-day simple moving average is $24.34 and its 200-day simple moving average is $26.45. The company has a market capitalization of $615.18 million, a price-to-earnings ratio of -7.01 and a beta of 1.00.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.78) by $0.18. Equities research analysts forecast that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.
Hedge Funds Weigh In On ArriVent BioPharma
Hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC raised 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 stake in shares of ArriVent BioPharma in the 4th quarter worth about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ArriVent BioPharma by 8.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock worth $456,000 after purchasing an additional 1,327 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in ArriVent BioPharma by 773.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after purchasing an additional 1,416 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock worth $293,000 after buying an additional 1,620 shares during the last quarter. Institutional investors own 9.48% of the company's stock.
About ArriVent BioPharma
(
Get Free Report)
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.
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