ArriVent BioPharma (NASDAQ:AVBP) Trading Up 5.5% – What’s Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price traded up 5.5% during trading on Tuesday . The stock traded as high as $29.04 and last traded at $29.02. 136,424 shares changed hands during trading, a decline of 22% from the average session volume of 173,879 shares. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

AVBP has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating and issued a $39.00 price objective (up previously from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of ArriVent BioPharma in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price objective on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup lifted their price target on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Trading Up 4.5 %

The firm has a 50-day simple moving average of $28.23 and a 200-day simple moving average of $23.54.

Institutional Investors Weigh In On ArriVent BioPharma

A number of hedge funds and other institutional investors have recently bought and sold shares of AVBP. Rhumbline Advisers boosted its stake in shares of ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after purchasing an additional 2,942 shares during the period. AlphaCentric Advisors LLC raised its stake in shares of ArriVent BioPharma by 3.6% in the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after acquiring an additional 3,000 shares in the last quarter. American International Group Inc. acquired a new position in ArriVent BioPharma during the 1st quarter worth $87,000. Novo Holdings A S raised its position in ArriVent BioPharma by 0.4% in the 3rd quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock valued at $35,375,000 after purchasing an additional 5,315 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of ArriVent BioPharma by 32.6% during the third quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company’s stock worth $516,000 after buying an additional 5,397 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.