ArriVent BioPharma (NASDAQ:AVBP) Trading 5.7% Higher

Posted by Defense World Staff on Jun 23rd, 2024

ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report)’s stock price traded up 5.7% during trading on Friday . The company traded as high as $18.71 and last traded at $17.54. 28,500 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 141,624 shares. The stock had previously closed at $16.60.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of ArriVent BioPharma in a research report on Thursday, June 6th.

Read Our Latest Research Report on AVBP

ArriVent BioPharma Price Performance

The company’s 50 day simple moving average is $17.88.

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.14. On average, equities analysts expect that ArriVent BioPharma, Inc. will post -3.07 EPS for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors and hedge funds have recently bought and sold shares of AVBP. Vanguard Group Inc. purchased a new position in shares of ArriVent BioPharma in the 1st quarter worth about $11,586,000. American International Group Inc. bought a new position in ArriVent BioPharma during the 1st quarter valued at approximately $87,000. Farallon Capital Management LLC bought a new position in shares of ArriVent BioPharma during the first quarter valued at approximately $2,711,000. BNP Paribas Financial Markets bought a new position in ArriVent BioPharma in the 1st quarter worth $83,000. Finally, Blackstone Inc. bought a new position in ArriVent BioPharma in the first quarter worth about $446,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Company Profile

(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.