ArriVent BioPharma (NASDAQ:AVBP) Trading Down 5% – Should You Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price fell 5% during mid-day trading on Monday . The company traded as low as $26.15 and last traded at $26.15. 18,800 shares were traded during trading, a decline of 80% from the average session volume of 94,543 shares. The stock had previously closed at $27.52.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. The Goldman Sachs Group increased their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of ArriVent BioPharma in a research note on Friday, November 15th. Finally, Citigroup upped their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Trading Down 5.0 %

The business’s fifty day moving average is $28.81 and its 200 day moving average is $25.32.

Institutional Trading of ArriVent BioPharma

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in ArriVent BioPharma in the 3rd quarter valued at approximately $240,000. SG Americas Securities LLC acquired a new stake in shares of ArriVent BioPharma in the third quarter valued at approximately $280,000. JPMorgan Chase & Co. lifted its position in shares of ArriVent BioPharma by 183.2% in the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock worth $292,000 after purchasing an additional 8,050 shares in the last quarter. Rhumbline Advisers boosted its holdings in ArriVent BioPharma by 30.1% during the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after purchasing an additional 2,942 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in ArriVent BioPharma by 168.9% in the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock valued at $384,000 after purchasing an additional 10,269 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors.

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.