ArriVent BioPharma, Inc.’s (NASDAQ:AVBP) Lock-Up Period To End on July 24th

ArriVent BioPharma’s (NASDAQ:AVBP) lock-up period is set to expire on Wednesday, July 24th. ArriVent BioPharma had issued 9,722,222 shares in its initial public offering on January 26th. The total size of the offering was $174,999,996 based on an initial share price of $18.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

A number of analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of ArriVent BioPharma in a report on Thursday, June 6th. Oppenheimer initiated coverage on ArriVent BioPharma in a research note on Monday. They issued an “outperform” rating and a $35.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.40.

ArriVent BioPharma Trading Up 4.7 %

AVBP stock opened at $20.43 on Wednesday. The firm has a 50 day simple moving average of $18.73. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $25.95.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.14. Equities analysts anticipate that ArriVent BioPharma will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds have recently modified their holdings of AVBP. Hhlr Advisors LTD. acquired a new position in ArriVent BioPharma during the first quarter worth approximately $70,174,000. Vanguard Group Inc. acquired a new position in ArriVent BioPharma in the first quarter valued at approximately $11,586,000. Altitude Crest Partners Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter worth approximately $9,922,000. Farallon Capital Management LLC acquired a new position in ArriVent BioPharma during the 1st quarter valued at approximately $2,711,000. Finally, Blackstone Inc. bought a new position in ArriVent BioPharma during the 1st quarter worth $446,000. 9.48% of the stock is owned by institutional investors and hedge funds.

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.