ArriVent BioPharma (NASDAQ:AVBP) Hits New 1-Year High – What’s Next?

by · The Markets Daily

ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $31.46 and last traded at $31.38, with a volume of 14375 shares trading hands. The stock had previously closed at $30.24.

Analysts Set New Price Targets

A number of research firms have recently commented on AVBP. HC Wainwright upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Citigroup upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group boosted their target price on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.80.

Get Our Latest Stock Report on ArriVent BioPharma

ArriVent BioPharma Stock Performance

The company’s fifty day simple moving average is $26.24 and its two-hundred day simple moving average is $21.41.

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). Equities analysts forecast that ArriVent BioPharma, Inc. will post -3.03 EPS for the current year.

Institutional Trading of ArriVent BioPharma

Several institutional investors have recently made changes to their positions in the company. Novo Holdings A S grew its stake in shares of ArriVent BioPharma by 0.4% in the 3rd quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock worth $35,375,000 after acquiring an additional 5,315 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of ArriVent BioPharma in the 3rd quarter worth $280,000. Rhumbline Advisers grew its stake in shares of ArriVent BioPharma by 30.1% in the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after acquiring an additional 2,942 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of ArriVent BioPharma by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock worth $554,000 after acquiring an additional 7,140 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its stake in shares of ArriVent BioPharma by 3.6% in the 2nd quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock worth $1,595,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors own 9.48% of the company’s stock.

About ArriVent BioPharma

(Get Free Report)

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.

Further Reading