ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Up – Still a Buy?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) gapped up before the market opened on Thursday . The stock had previously closed at $19.60, but opened at $20.19. ArriVent BioPharma shares last traded at $20.04, with a volume of 6,378 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVBP. HC Wainwright reiterated a “buy” rating and set a $39.00 price target on shares of ArriVent BioPharma in a research report on Friday, March 7th. B. Riley began coverage on shares of ArriVent BioPharma in a research report on Thursday. They set a “buy” rating and a $37.00 price target for the company. Finally, Guggenheim began coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a “buy” rating and a $45.00 price target for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $39.00.

ArriVent BioPharma Trading Down 0.1 %

The stock’s 50 day moving average price is $24.92 and its two-hundred day moving average price is $26.72. The firm has a market capitalization of $663.99 million, a PE ratio of -7.60 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.18. Analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC grew its stake in ArriVent BioPharma by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after acquiring an additional 1,110 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ArriVent BioPharma in the 4th quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ArriVent BioPharma by 8.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock worth $456,000 after acquiring an additional 1,327 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of ArriVent BioPharma by 773.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after buying an additional 1,416 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of ArriVent BioPharma by 17.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company’s stock valued at $293,000 after buying an additional 1,620 shares during the period. 9.48% of the stock is 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.