ArriVent BioPharma (NASDAQ:AVBP) Trading Down 3.5% – Time to Sell?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) traded down 3.5% during mid-day trading on Monday . The stock traded as low as $20.20 and last traded at $20.27. 67,990 shares were traded during trading, a decline of 57% from the average session volume of 158,799 shares. The stock had previously closed at $21.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVBP. HC Wainwright restated a “buy” rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Guggenheim initiated coverage on ArriVent BioPharma in a report on Monday, March 10th. They set a “buy” rating and a $45.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $39.40.

ArriVent BioPharma Price Performance

The business has a fifty day moving average of $25.32 and a 200-day moving average of $26.87. The stock has a market capitalization of $663.31 million, a price-to-earnings ratio of -7.59 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. As a group, research analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in ArriVent BioPharma by 153.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock worth $4,756,000 after purchasing an additional 122,641 shares in the last quarter. Geode Capital Management LLC increased its stake in ArriVent BioPharma by 154.2% in the 3rd quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock worth $14,036,000 after purchasing an additional 362,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in ArriVent BioPharma in the 4th quarter worth about $31,000. Barclays PLC increased its stake in ArriVent BioPharma by 1,124.8% in the 3rd quarter. Barclays PLC now owns 41,522 shares of the company’s stock worth $976,000 after purchasing an additional 38,132 shares in the last quarter. Finally, State Street Corp increased its stake in ArriVent BioPharma by 210.4% in the 3rd quarter. State Street Corp now owns 476,809 shares of the company’s stock worth $11,205,000 after purchasing an additional 323,186 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.