ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Down – What’s Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP) gapped down prior to trading on Thursday . The stock had previously closed at $24.92, but opened at $24.12. ArriVent BioPharma shares last traded at $23.97, with a volume of 4,184 shares traded.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of ArriVent BioPharma in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $36.80.

ArriVent BioPharma Trading Down 0.3 %

The company has a fifty day moving average price of $27.46 and a 200 day moving average price of $25.76.

Hedge Funds Weigh In On ArriVent BioPharma

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