ArriVent BioPharma Sees Unusually High Options Volume (NASDAQ:AVBP)

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of some unusual options trading on Friday. Traders acquired 1,832 call options on the stock. This is an increase of 321% compared to the average volume of 435 call options.

Wall Street Analyst Weigh In

AVBP has been the subject of a number of research analyst reports. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. HC Wainwright increased their price objective on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald started coverage on shares of ArriVent BioPharma in a report on Monday, December 22nd. They set an “overweight” rating on the stock. Citigroup decreased their price target on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ArriVent BioPharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.22.

Hedge Funds Weigh In On ArriVent BioPharma

A number of hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in ArriVent BioPharma in the 4th quarter valued at approximately $227,000. Invesco Ltd. increased its holdings in shares of ArriVent BioPharma by 12.5% in the 4th quarter. Invesco Ltd. now owns 16,892 shares of the company’s stock worth $340,000 after purchasing an additional 1,876 shares in the last quarter. XTX Topco Ltd bought a new position in shares of ArriVent BioPharma during the fourth quarter valued at $528,000. Virtus Investment Advisers LLC lifted its holdings in shares of 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 boosted its position in shares of ArriVent BioPharma by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock valued at $1,655,000 after buying an additional 532 shares during the last quarter. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Performance

Shares of AVBP traded down $1.20 during trading hours on Friday, hitting $24.05. The company had a trading volume of 450,018 shares, compared to its average volume of 458,693. The firm has a fifty day moving average price of $22.17 and a 200-day moving average price of $20.89. The stock has a market capitalization of $992.78 million, a price-to-earnings ratio of -5.67 and a beta of 0.99. ArriVent BioPharma has a 52-week low of $15.47 and a 52-week high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.09. Research analysts anticipate that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

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. 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.