ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) shares rose 4.9% during trading on Monday . The stock traded as high as $18.83 and last traded at $19.03. Approximately 44,991 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 169,312 shares. The stock had previously closed at $18.14.
Wall Street Analyst Weigh In
AVBP has been the subject of a number of analyst reports. B. Riley initiated coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They set a "buy" rating and a $37.00 price objective for the company. 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. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a research report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $39.00.
View Our Latest Stock Report on ArriVent BioPharma
ArriVent BioPharma Price Performance
The firm has a market cap of $707.19 million, a price-to-earnings ratio of -8.09 and a beta of 1.66. The firm has a fifty day simple moving average of $20.47 and a two-hundred day simple moving average of $25.52.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.78) by $0.18. Equities analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ArriVent BioPharma
Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ArriVent BioPharma during the 4th quarter worth about $31,000. Tower Research Capital LLC TRC lifted its holdings in shares of ArriVent BioPharma by 773.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after purchasing an additional 1,416 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ArriVent BioPharma by 3,730.0% during the first quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock worth $500,000 after purchasing an additional 2,611 shares during the period. Virtus ETF Advisers LLC purchased a new stake in ArriVent BioPharma in the fourth quarter valued at approximately $73,000. Finally, KLP Kapitalforvaltning AS acquired a new position in ArriVent BioPharma in the 4th quarter worth approximately $83,000. 9.48% of the stock is owned by institutional investors and hedge funds.
ArriVent BioPharma Company Profile
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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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