Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $31.46 and last traded at $31.38, with a volume of 14375 shares changing hands. The stock had previously closed at $30.24.
Wall Street Analysts Forecast Growth
AVBP has been the subject of several research reports. Oppenheimer reiterated an "outperform" rating and issued a $39.00 price target (up previously from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Citigroup upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. HC Wainwright upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group upped their price objective on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ArriVent BioPharma currently has a consensus rating of "Buy" and an average target price of $36.80.
Get Our Latest Analysis on AVBP
ArriVent BioPharma Trading Up 2.6 %
The company's fifty day moving average price is $26.10 and its two-hundred day moving average price is $21.32.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). As a group, research analysts anticipate that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of AVBP. Hhlr Advisors LTD. purchased a new position in ArriVent BioPharma in the first quarter valued at approximately $70,174,000. Novo Holdings A S raised its holdings in ArriVent BioPharma by 0.4% in the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company's stock valued at $35,375,000 after buying an additional 5,315 shares during the period. Vanguard Group Inc. purchased a new position in ArriVent BioPharma in the first quarter valued at approximately $11,586,000. Altitude Crest Partners Inc. purchased a new position in ArriVent BioPharma in the first quarter valued at approximately $9,922,000. Finally, Farallon Capital Management LLC purchased a new position in ArriVent BioPharma in the first quarter valued at approximately $2,711,000. 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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