ArriVent BioPharma (NASDAQ:AVBP) Shares Down 4.5% - Should You Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report)'s stock price traded down 4.5% during trading on Friday . The company traded as low as $19.67 and last traded at $19.70. 31,755 shares changed hands during trading, a decline of 82% from the average session volume of 180,369 shares. The stock had previously closed at $20.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVBP shares. Jones Trading assumed coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price objective on the stock. Guggenheim started coverage on ArriVent BioPharma in a research report on Monday, March 10th. They set a "buy" rating and a $45.00 target price on the stock. Wall Street Zen downgraded ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. B. Riley assumed coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 target price for the company. Finally, HC Wainwright increased 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. One equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $39.29.

ArriVent BioPharma Price Performance

The stock has a market cap of $685.63 million, a PE ratio of -5.32 and a beta of 1.47. The firm's 50 day moving average price is $19.21 and its two-hundred day moving average price is $23.86.

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

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ArriVent BioPharma in the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its holdings in ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after buying an additional 1,416 shares during the period. GAMMA Investing LLC lifted its position in ArriVent BioPharma by 3,730.0% during the first quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock valued at $500,000 after buying an additional 2,611 shares during the period. Virtus ETF Advisers LLC bought a new position in shares of ArriVent BioPharma in the 4th quarter worth about $73,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of ArriVent BioPharma during the fourth quarter valued at approximately $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.