ArriVent BioPharma (NASDAQ:AVBP) Sees Unusually-High Trading Volume - Should You Buy?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) saw an uptick in trading volume on Wednesday . 244,009 shares changed hands during trading, an increase of 27% from the previous session's volume of 191,659 shares.The stock last traded at $23.03 and had previously closed at $23.12.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVBP. Guggenheim began coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a "buy" rating and a $45.00 target price for the company. B. Riley assumed coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 price objective on the stock. HC Wainwright upped their target price on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Jones Trading assumed coverage on shares of ArriVent BioPharma in a research report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Wall Street Zen downgraded shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.29.

ArriVent BioPharma Stock Up 3.3%

The company has a market cap of $802.98 million, a PE ratio of -6.23 and a beta of 1.26. The business's fifty day moving average is $19.52 and its 200-day moving average is $23.53.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted 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). Analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP raised its position in shares of ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company's stock valued at $2,706,000 after buying an additional 576 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of ArriVent BioPharma by 6.8% in the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company's stock valued at $465,000 after purchasing an additional 1,110 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ArriVent BioPharma in the fourth quarter valued at $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ArriVent BioPharma by 8.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock valued at $456,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after purchasing an additional 1,416 shares in the last quarter. Institutional investors own 9.48% of the company's stock.

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.