ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) fell 3.5% on Monday . The company traded as low as $20.20 and last traded at $20.27. 67,990 shares traded hands during trading, a decline of 57% from the average session volume of 158,799 shares. The stock had previously closed at $21.00.
Analysts Set New Price Targets
AVBP has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $39.00 price target on shares of ArriVent BioPharma in a research report on Friday, March 7th. Guggenheim initiated coverage on ArriVent BioPharma in a research report on Monday, March 10th. They issued a "buy" rating and a $45.00 price target for the company. Finally, B. Riley initiated coverage on ArriVent BioPharma in a research report on Thursday. They issued a "buy" rating and a $37.00 price target for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ArriVent BioPharma currently has an average rating of "Buy" and a consensus price target of $39.00.
Check Out Our Latest Stock Analysis on AVBP
ArriVent BioPharma Price Performance
The business has a fifty day simple moving average of $25.03 and a 200 day simple moving average of $26.77. The firm has a market cap of $672.80 million, a price-to-earnings ratio of -7.72 and a beta of 1.00.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings results 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. On average, research analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Infinitum Asset Management LLC acquired a new stake in shares of ArriVent BioPharma in the fourth quarter valued at $43,794,000. Suvretta Capital Management LLC raised its stake in shares of ArriVent BioPharma by 21.7% in the fourth quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock valued at $59,833,000 after acquiring an additional 400,838 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. State Street Corp raised its stake in shares of ArriVent BioPharma by 210.4% in the third quarter. State Street Corp now owns 476,809 shares of the company's stock valued at $11,205,000 after acquiring an additional 323,186 shares in the last quarter. Finally, FMR LLC raised its stake in shares of ArriVent BioPharma by 8.7% in the third quarter. FMR LLC now owns 2,119,695 shares of the company's stock valued at $49,813,000 after acquiring an additional 169,514 shares in the last quarter. 9.48% of the stock is currently owned by hedge funds and other institutional investors.
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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