ArriVent BioPharma (NASDAQ:AVBP) Shares Up 6.3%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares were up 6.3% on Thursday . The stock traded as high as $25.31 and last traded at $25.29. Approximately 84,174 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 177,247 shares. The stock had previously closed at $23.79.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVBP shares. Oppenheimer reiterated 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. HC Wainwright boosted their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group boosted their price objective on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Citigroup boosted their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Stock Up 5.8 %

The stock’s 50 day simple moving average is $24.09 and its 200 day simple moving average is $20.18.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). As a group, sell-side analysts expect that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in ArriVent BioPharma in the 1st quarter worth approximately $83,000. American International Group Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter worth approximately $87,000. Rhumbline Advisers lifted its holdings in shares of ArriVent BioPharma by 30.1% in the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after acquiring an additional 2,942 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of ArriVent BioPharma in the 3rd quarter worth approximately $280,000. Finally, Blackstone Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter worth approximately $446,000. 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.