ArriVent BioPharma (NASDAQ:AVBP) Trading Up 2.2% – Should You Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price was up 2.2% on Friday . The stock traded as high as $19.00 and last traded at $18.99. Approximately 59,051 shares were traded during trading, a decline of 64% from the average daily volume of 162,942 shares. The stock had previously closed at $18.57.

Wall Street Analyst Weigh In

Several research analysts have commented on AVBP shares. B. Riley assumed coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They set a “buy” rating and a $37.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price target on shares of ArriVent BioPharma in a research note on Friday, March 7th. Finally, Guggenheim began coverage on shares of ArriVent BioPharma in a report on Monday, March 10th. They set a “buy” rating and a $45.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ArriVent BioPharma currently has an average rating of “Buy” and a consensus target price of $39.00.

ArriVent BioPharma Price Performance

The stock has a market capitalization of $644.60 million, a P/E ratio of -7.37 and a beta of 1.00. The stock’s fifty day moving average price is $24.34 and its 200 day moving average price is $26.44.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. On average, sell-side analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in shares of ArriVent BioPharma during the fourth quarter valued at $1,117,000. California State Teachers Retirement System grew its holdings in ArriVent BioPharma by 561.3% during the 4th quarter. California State Teachers Retirement System now owns 13,649 shares of the company’s stock worth $364,000 after acquiring an additional 11,585 shares in the last quarter. Infinitum Asset Management LLC purchased a new position in ArriVent BioPharma during the 4th quarter valued at about $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of ArriVent BioPharma in the 4th quarter worth approximately $218,000. Finally, Woodline Partners LP boosted its stake in shares of ArriVent BioPharma by 20.5% during the fourth quarter. Woodline Partners LP now owns 145,797 shares of the company’s stock valued at $3,884,000 after purchasing an additional 24,853 shares in the last quarter. 9.48% of the stock is currently owned by hedge funds and other 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.