ArriVent BioPharma (NASDAQ:AVBP) Shares Down 3.5% – What’s Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price was down 3.5% on Monday . The stock traded as low as $20.20 and last traded at $20.27. Approximately 67,990 shares changed hands during trading, a decline of 57% from the average daily volume of 158,799 shares. The stock had previously closed at $21.00.

Analysts Set New Price Targets

Several equities analysts have weighed in on AVBP shares. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research note on Friday, March 7th. Guggenheim started coverage on ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $39.40.

ArriVent BioPharma Trading Down 5.2 %

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

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.18. As a group, sell-side analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in ArriVent BioPharma by 561.3% in the 4th quarter. California State Teachers Retirement System now owns 13,649 shares of the company’s stock worth $364,000 after purchasing an additional 11,585 shares during the last quarter. Infinitum Asset Management LLC acquired a new stake in ArriVent BioPharma in the 4th quarter worth approximately $43,794,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in ArriVent BioPharma in the 4th quarter worth approximately $218,000. Woodline Partners LP lifted its holdings in ArriVent BioPharma by 20.5% in the 4th quarter. Woodline Partners LP now owns 145,797 shares of the company’s stock worth $3,884,000 after purchasing an additional 24,853 shares during the last quarter. Finally, Suvretta Capital Management LLC lifted its holdings in ArriVent BioPharma by 21.7% in the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock worth $59,833,000 after purchasing an additional 400,838 shares during the last quarter. 9.48% of the stock is currently 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.