ArriVent BioPharma (NASDAQ:AVBP) Sees Large Volume Increase - What's Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) saw strong trading volume on Monday . 291,856 shares traded hands during trading, an increase of 40% from the previous session's volume of 208,052 shares.The stock last traded at $24.43 and had previously closed at $25.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen cut ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. HC Wainwright upped their price target on ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Oppenheimer reaffirmed an "outperform" rating and set a $44.00 price target (up previously from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday. Jones Trading assumed coverage on ArriVent BioPharma in a research report on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Guggenheim reaffirmed a "buy" rating and set a $45.00 price target on shares of ArriVent BioPharma in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

ArriVent BioPharma Stock Performance

The company has a market capitalization of $780.33 million, a P/E ratio of -6.05 and a beta of 1.26. The business has a 50 day moving average of $21.56 and a 200-day moving average of $23.03.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($1.24). As a group, equities analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Hedge Funds Weigh In On ArriVent BioPharma

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in ArriVent BioPharma in the 1st quarter worth about $189,000. Woodline Partners LP increased its stake in ArriVent BioPharma by 0.4% in the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company's stock worth $2,706,000 after acquiring an additional 576 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in ArriVent BioPharma in the 1st quarter worth about $266,000. Infinitum Asset Management LLC increased its stake in ArriVent BioPharma by 25.7% in the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company's stock worth $38,205,000 after acquiring an additional 422,315 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in ArriVent BioPharma by 46.3% in the 1st quarter. Wellington Management Group LLP now owns 61,348 shares of the company's stock worth $1,134,000 after acquiring an additional 19,427 shares during the last quarter. 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.