ArriVent BioPharma (NASDAQ:AVBP) Sets New 52-Week High – Should You Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $26.23 and last traded at $25.81, with a volume of 140592 shares. The stock had previously closed at $23.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HC Wainwright raised their price target on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. Cantor Fitzgerald started coverage on shares of ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating for the company. Truist Financial started coverage on shares of ArriVent BioPharma in a report on Tuesday, November 25th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Zacks Research raised ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ArriVent BioPharma presently has an average rating of “Moderate Buy” and a consensus price target of $40.22.

ArriVent BioPharma Stock Down 4.9%

The company’s 50-day moving average is $22.17 and its 200 day moving average is $20.89. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -5.96 and a beta of 0.99.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Monday, March 9th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.09. Analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Trading of ArriVent BioPharma

A number of institutional investors and hedge funds have recently made changes to their positions in AVBP. Virtu Financial LLC purchased a new position in shares of ArriVent BioPharma during the 4th quarter valued at approximately $227,000. Invesco Ltd. raised its position in ArriVent BioPharma by 12.5% during the fourth quarter. Invesco Ltd. now owns 16,892 shares of the company’s stock worth $340,000 after acquiring an additional 1,876 shares during the period. XTX Topco Ltd purchased a new position in ArriVent BioPharma during the fourth quarter valued at $528,000. Virtus Investment Advisers LLC lifted its holdings in ArriVent BioPharma by 126.2% during the fourth quarter. Virtus Investment Advisers LLC now owns 10,894 shares of the company’s stock valued at $219,000 after purchasing an additional 6,078 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of ArriVent BioPharma by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock valued at $1,655,000 after purchasing an additional 532 shares during the period. 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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.