ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 5.6%

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) fell 5.6% during mid-day trading on Monday . The company traded as low as $23.37 and last traded at $23.42. 40,600 shares traded hands during trading, a decline of 77% from the average session volume of 175,618 shares. The stock had previously closed at $24.81.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVBP. The Goldman Sachs Group lifted their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Oppenheimer reissued an “outperform” rating and set a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. Citigroup lifted their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, HC Wainwright raised their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ArriVent BioPharma presently has an average rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Stock Down 8.7 %

The company has a 50 day moving average price of $23.50 and a 200 day moving average price of $19.96.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.65). Sell-side analysts expect that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma during the 1st quarter worth approximately $83,000. Vanguard Group Inc. acquired a new stake in ArriVent BioPharma during the first quarter worth approximately $11,586,000. American International Group Inc. purchased a new stake in ArriVent BioPharma in the 1st quarter valued at about $87,000. Altitude Crest Partners Inc. acquired a new position in ArriVent BioPharma during the first quarter worth approximately $9,922,000. Finally, Hhlr Advisors LTD. acquired a new position in ArriVent BioPharma in the first quarter valued at $70,174,000. 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.