ArriVent BioPharma (NASDAQ:AVBP) Trading Down 4.5% - Time to Sell?

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on AVBP shares. B. Riley assumed coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They issued a "buy" rating and a $37.00 price target for the company. 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. Wall Street Zen cut shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday. Jones Trading initiated coverage on shares of ArriVent BioPharma in a research note on Tuesday. They issued a "buy" rating and a $40.00 price target for the company. Finally, HC Wainwright raised their price objective on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ArriVent BioPharma presently has a consensus rating of "Moderate Buy" and an average price target of $39.29.

ArriVent BioPharma Stock Performance

The firm has a market cap of $695.82 million, a P/E ratio of -5.37 and a beta of 1.47. The firm's fifty day moving average price is $19.16 and its 200 day moving average price is $24.22.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced 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). As a group, 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

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ArriVent BioPharma during the 4th quarter valued at about $31,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 acquiring an additional 1,416 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $500,000 after acquiring an additional 2,611 shares during the period. Virtus ETF Advisers LLC purchased a new position in shares of ArriVent BioPharma during the fourth quarter worth $73,000. Finally, KLP Kapitalforvaltning AS acquired a new position in ArriVent BioPharma during the fourth quarter valued at $83,000. 9.48% of the stock is owned by hedge funds and other 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.

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