ArriVent BioPharma (NASDAQ:AVBP) Trading Down 4.5% - What's Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) shares were down 4.5% during mid-day trading on Monday . The stock traded as low as $22.27 and last traded at $21.88. Approximately 11,520 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 220,318 shares. The stock had previously closed at $22.91.

Analyst Ratings Changes

AVBP has been the subject of several recent research reports. Wall Street Zen cut ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Jones Trading initiated coverage on shares of ArriVent BioPharma in a research note on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target for the company. B. Riley assumed coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They issued a "buy" rating and a $37.00 price objective on the stock. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Finally, HC Wainwright increased their price objective 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. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

ArriVent BioPharma Stock Down 1.6%

The stock has a market cap of $710.03 million, a price-to-earnings ratio of -5.51 and a beta of 1.20. The business's 50 day simple moving average is $21.71 and its 200 day simple moving average is $22.84.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($1.24). Equities research analysts forecast that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVBP. Tower Research Capital LLC TRC lifted its holdings in ArriVent BioPharma by 773.8% during 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 last quarter. GAMMA Investing LLC raised its position in shares of ArriVent BioPharma by 3,730.0% in the first quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock valued at $500,000 after purchasing an additional 2,611 shares during the period. Virtus ETF Advisers LLC acquired a new stake in shares of ArriVent BioPharma during the 4th quarter worth about $73,000. KLP Kapitalforvaltning AS bought a new stake in shares of ArriVent BioPharma during the 4th quarter worth about $83,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of ArriVent BioPharma by 34.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock worth $207,000 after buying an additional 2,000 shares during the period. 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.