Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report) traded up 10.5% during mid-day trading on Friday . The company traded as high as $30.04 and last traded at $29.8150. 126,190 shares traded hands during trading, a decline of 74% from the average session volume of 476,343 shares. The stock had previously closed at $26.97.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AVBP. Citigroup decreased their target price on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. HC Wainwright lifted their target price on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. BTIG Research started coverage on ArriVent BioPharma in a research report on Thursday, March 12th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.13.
Get Our Latest Stock Analysis on ArriVent BioPharma
ArriVent BioPharma Stock Up 12.5%
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.08). On average, research analysts forecast that ArriVent BioPharma, Inc. will post -3.78 earnings per share for the current year.
Institutional Trading of ArriVent BioPharma
Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. bought a new stake in ArriVent BioPharma in the third quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. boosted its position in ArriVent BioPharma by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after buying an additional 438 shares in the last quarter. Russell Investments Group Ltd. boosted its position in ArriVent BioPharma by 9,747.6% in the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after buying an additional 2,047 shares in the last quarter. BNP Paribas Financial Markets boosted its position in ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares in the last quarter. Finally, Group One Trading LLC acquired a new position in ArriVent BioPharma in the fourth quarter valued at about $57,000. 9.48% of the stock is currently owned by institutional investors.
About ArriVent BioPharma
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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.
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