Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $21.08, but opened at $20.40. ArriVent BioPharma shares last traded at $21.27, with a volume of 10,754 shares trading hands.
Analyst Ratings Changes
Several equities analysts have recently commented on AVBP shares. Guggenheim started coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They issued a "buy" rating and a $45.00 target price for the company. B. Riley initiated coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $39.00 price target on shares of ArriVent BioPharma in a research note on Friday, March 7th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ArriVent BioPharma currently has an average rating of "Buy" and a consensus target price of $39.00.
View Our Latest Stock Report on AVBP
ArriVent BioPharma Stock Performance
The stock's 50 day moving average price is $19.61 and its 200 day moving average price is $25.05. The company has a market capitalization of $655.03 million, a P/E ratio of -7.49 and a beta of 1.47.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.18. On average, analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ArriVent BioPharma
A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ArriVent BioPharma in the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its stake in ArriVent BioPharma by 773.8% in the 4th 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 during the period. Virtus ETF Advisers LLC purchased a new stake in shares of ArriVent BioPharma during the 4th quarter valued at $73,000. KLP Kapitalforvaltning AS bought a new stake in shares of ArriVent BioPharma during the 4th quarter worth $83,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of ArriVent BioPharma in the 4th quarter worth about $190,000. 9.48% of the stock is owned by institutional investors.
ArriVent BioPharma Company Profile
(
Get Free Report)
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.
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