ArriVent BioPharma (NASDAQ:AVBP) Sets New 1-Year High – Here’s What Happened

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.24 and last traded at $32.56, with a volume of 589 shares traded. The stock had previously closed at $31.98.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup boosted their price target on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. HC Wainwright increased their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group lifted their price target 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, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $36.80.

ArriVent BioPharma Stock Up 12.3 %

The business has a 50 day moving average price of $27.11 and a 200 day moving average price of $22.20.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). As a group, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -3.03 EPS for the current year.

Institutional Trading of ArriVent BioPharma

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of ArriVent BioPharma during the first quarter valued at $83,000. American International Group Inc. bought a new position in ArriVent BioPharma during the 1st quarter valued at about $87,000. SG Americas Securities LLC purchased a new stake in shares of ArriVent BioPharma during the 3rd quarter valued at about $280,000. Rhumbline Advisers grew its stake in shares of ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after acquiring an additional 2,942 shares during the period. Finally, Blackstone Inc. purchased a new position in shares of ArriVent BioPharma during the first quarter valued at approximately $446,000. 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.