ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report)'s stock price fell 6.7% during trading on Monday . The stock traded as low as $19.49 and last traded at $18.79. 51,611 shares were traded during mid-day trading, a decline of 72% from the average session volume of 184,823 shares. The stock had previously closed at $20.15.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AVBP. Guggenheim initiated 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 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 issued a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $39.00.
Read Our Latest Report on AVBP
ArriVent BioPharma Stock Performance
The company's 50-day moving average price is $19.53 and its two-hundred day moving average price is $24.84. The stock has a market cap of $680.56 million, a PE ratio of -7.78 and a beta of 1.47.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.90) earnings per share 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.
Hedge Funds Weigh In On ArriVent BioPharma
A number of large investors have recently added to or reduced their stakes in AVBP. Barclays PLC raised its position in ArriVent BioPharma by 1,124.8% in the 3rd quarter. Barclays PLC now owns 41,522 shares of the company's stock worth $976,000 after purchasing an additional 38,132 shares during the period. JPMorgan Chase & Co. raised its position in ArriVent BioPharma by 183.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock worth $292,000 after purchasing an additional 8,050 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in ArriVent BioPharma in the 4th quarter worth $190,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in ArriVent BioPharma in the 4th quarter worth $31,000. Finally, Rhumbline Advisers grew its holdings in ArriVent BioPharma by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock worth $977,000 after acquiring an additional 3,069 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company's stock.
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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