ArriVent BioPharma (NASDAQ:AVBP) Stock Price Up 2.4%

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price was up 2.4% on Wednesday . The company traded as high as $28.65 and last traded at $28.38. Approximately 8,110 shares changed hands during trading, a decline of 94% from the average daily volume of 129,751 shares. The stock had previously closed at $27.72.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVBP shares. HC Wainwright raised their price target on shares of ArriVent BioPharma from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer restated an “outperform” rating and issued a $35.00 target price on shares of ArriVent BioPharma in a research note on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.40.

ArriVent BioPharma Stock Performance

The stock’s 50 day moving average is $20.71 and its 200 day moving average is $19.35.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.65). As a group, research analysts predict that ArriVent BioPharma, Inc. will post -2.91 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Novo Holdings A S grew its holdings in ArriVent BioPharma by 39.3% during the 2nd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $27,825,000 after buying an additional 422,860 shares in the last quarter. Rhumbline Advisers boosted its position in shares of ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after acquiring an additional 2,942 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ArriVent BioPharma by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after acquiring an additional 7,140 shares during the period. AlphaCentric Advisors LLC grew its stake in ArriVent BioPharma by 3.6% during the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $2,711,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.