ArriVent BioPharma (NASDAQ:AVBP) Hits New 52-Week High at $26.24

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price reached a new 52-week high on Monday . The company traded as high as $26.24 and last traded at $26.22, with a volume of 30878 shares trading hands. The stock had previously closed at $24.27.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of ArriVent BioPharma in a research report on Thursday, August 15th. HC Wainwright raised their price target on ArriVent BioPharma from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $31.40.

ArriVent BioPharma Stock Performance

The business has a 50-day moving average price of $20.33 and a two-hundred day moving average price of $19.26.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). On average, research analysts forecast that ArriVent BioPharma, Inc. will post -2.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVBP. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma in the first quarter valued at about $83,000. American International Group Inc. acquired a new position in shares of ArriVent BioPharma during the first quarter worth about $87,000. Rhumbline Advisers boosted its position in shares of ArriVent BioPharma by 30.1% during the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after buying an additional 2,942 shares during the period. Blackstone Inc. acquired a new position in shares of ArriVent BioPharma during the first quarter worth about $446,000. Finally, Bank of New York Mellon Corp boosted its position in shares of ArriVent BioPharma by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock worth $554,000 after buying an additional 7,140 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.

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.