ArriVent BioPharma (NASDAQ:AVBP) Trading Up 5.2%

ArriVent BioPharma, Inc. (NASDAQ:AVBPGet Free Report) shares were up 5.2% on Friday . The company traded as high as $19.31 and last traded at $19.31. Approximately 1,491 shares were traded during trading, a decline of 99% from the average daily volume of 150,022 shares. The stock had previously closed at $18.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AVBP shares. The Goldman Sachs Group initiated coverage on shares of ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $27.00 price objective on the stock. Jefferies Financial Group started coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $35.00 price target for the company. Citigroup initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of ArriVent BioPharma in a research note on Thursday.

Check Out Our Latest Stock Analysis on ArriVent BioPharma

ArriVent BioPharma Stock Up 1.1 %

The stock has a 50 day moving average price of $17.81.

ArriVent BioPharma (NASDAQ:AVBPGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.14. Research analysts expect that ArriVent BioPharma, Inc. will post -3.07 EPS for the current fiscal 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 in the 1st quarter worth about $83,000. American International Group Inc. bought a new position in ArriVent BioPharma in the first quarter worth about $87,000. Blackstone Inc. acquired a new position in ArriVent BioPharma in the first quarter valued at approximately $446,000. Farallon Capital Management LLC bought a new position in shares of ArriVent BioPharma during the first quarter valued at approximately $2,711,000. Finally, Altitude Crest Partners Inc. acquired a new stake in shares of ArriVent BioPharma during the 1st quarter worth approximately $9,922,000. 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.

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