ArriVent BioPharma (NASDAQ:AVBP) Sees Unusually-High Trading Volume - What's Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) saw strong trading volume on Wednesday . 225,999 shares traded hands during mid-day trading, a decline of 9% from the previous session's volume of 247,550 shares.The stock last traded at $21.26 and had previously closed at $20.89.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jones Trading assumed coverage on shares of ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price target for the company. Wall Street Zen cut shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. HC Wainwright boosted their price target on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Guggenheim reissued a "buy" rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Finally, B. Riley assumed coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They issued a "buy" rating and a $37.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ArriVent BioPharma presently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

ArriVent BioPharma Stock Performance

The company has a market cap of $710.03 million, a PE ratio of -5.51 and a beta of 1.20. The stock's 50 day moving average price is $21.71 and its 200-day moving average price is $22.80.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced 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). On average, analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVBP. Rhumbline Advisers raised its holdings in ArriVent BioPharma by 9.1% during the 4th quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock valued at $977,000 after buying an additional 3,069 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ArriVent BioPharma by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 206,379 shares of the company's stock valued at $5,498,000 after buying an additional 4,011 shares during the last quarter. Swiss National Bank bought a new stake in ArriVent BioPharma during the 4th quarter valued at $703,000. Intech Investment Management LLC bought a new stake in ArriVent BioPharma during the 4th quarter valued at $394,000. Finally, KLP Kapitalforvaltning AS bought a new stake in ArriVent BioPharma during the 4th quarter valued at $83,000. 9.48% of the stock is currently owned by institutional investors.

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.