ArriVent BioPharma (NASDAQ:AVBP) Shares Up 2.4%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shot up 2.4% on Wednesday . The stock traded as high as $28.65 and last traded at $28.38. 8,110 shares traded hands during trading, a decline of 94% from the average session volume of 129,751 shares. The stock had previously closed at $27.72.

Wall Street Analyst Weigh In

AVBP has been the subject of a number of research reports. HC Wainwright increased their price objective on ArriVent BioPharma from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of ArriVent BioPharma in a research note on Thursday, August 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.40.

ArriVent BioPharma Stock Down 1.6 %

The business has a 50 day moving average price of $21.11 and a 200 day moving average price of $19.45.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.65). As a group, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -2.91 EPS for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of ArriVent BioPharma during the first quarter valued at $83,000. Vanguard Group Inc. bought a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $11,586,000. American International Group Inc. purchased a new position in shares of ArriVent BioPharma during the 1st quarter worth $87,000. Altitude Crest Partners Inc. purchased a new position in ArriVent BioPharma during the first quarter valued at $9,922,000. Finally, Hhlr Advisors LTD. bought a new position in shares of ArriVent BioPharma during the 1st quarter valued at approximately $70,174,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

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.