Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) were down 5% during mid-day trading on Monday . The company traded as low as $26.15 and last traded at $26.15. Approximately 18,800 shares were traded during trading, a decline of 80% from the average daily volume of 94,543 shares. The stock had previously closed at $27.52.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. HC Wainwright restated a "buy" rating and issued a $36.00 price objective on shares of ArriVent BioPharma in a report on Friday, November 15th. The Goldman Sachs Group raised their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Citigroup boosted their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Oppenheimer reissued an "outperform" rating and issued a $39.00 target price (up previously from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $36.80.
Read Our Latest Analysis on ArriVent BioPharma
ArriVent BioPharma Price Performance
The company's 50-day simple moving average is $28.69 and its 200-day simple moving average is $25.39.
Institutional Investors Weigh In On ArriVent BioPharma
Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in ArriVent BioPharma by 30.1% in the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company's stock valued at $236,000 after buying an additional 2,942 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in ArriVent BioPharma in the third quarter valued at about $240,000. SG Americas Securities LLC acquired a new stake in ArriVent BioPharma during the 3rd quarter valued at approximately $280,000. JPMorgan Chase & Co. increased its holdings in ArriVent BioPharma by 183.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock worth $292,000 after purchasing an additional 8,050 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of ArriVent BioPharma by 168.9% in the 3rd quarter. MetLife Investment Management LLC now owns 16,350 shares of the company's stock valued at $384,000 after purchasing an additional 10,269 shares in the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.
About ArriVent BioPharma
(
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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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