ArriVent BioPharma (NASDAQ:AVBP) Sees Strong Trading Volume

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares saw strong trading volume on Monday . 60,541 shares were traded during trading, a decline of 55% from the previous session’s volume of 134,831 shares.The stock last traded at $30.69 and had previously closed at $28.01.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and set a $39.00 price objective (up previously from $35.00) on shares of ArriVent BioPharma in a report on Tuesday. HC Wainwright boosted their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their target price on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, ArriVent BioPharma currently has a consensus rating of “Buy” and an average price target of $35.60.

ArriVent BioPharma Price Performance

The company has a 50-day moving average of $22.56 and a 200-day moving average of $19.76.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.65). Research analysts anticipate that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of ArriVent BioPharma during the 1st quarter valued at $83,000. American International Group Inc. bought a new position in shares of ArriVent BioPharma during the first quarter valued at $87,000. Rhumbline Advisers boosted its holdings in ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after acquiring an additional 2,942 shares during the last quarter. Blackstone Inc. bought a new stake in ArriVent BioPharma in the first quarter worth approximately $446,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of ArriVent BioPharma by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after purchasing an additional 7,140 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.

About ArriVent BioPharma

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.