ArriVent BioPharma (NASDAQ:AVBP) Stock Price Up 4.5% – Should You Buy?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) shot up 4.5% during mid-day trading on Tuesday . The stock traded as high as $20.31 and last traded at $20.23. 174,572 shares changed hands during trading, a decline of 2% from the average session volume of 177,786 shares. The stock had previously closed at $19.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVBP shares. B. Riley started coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They issued a “buy” rating and a $37.00 price target on the stock. Guggenheim started coverage on shares of ArriVent BioPharma in a report on Monday, March 10th. They set a “buy” rating and a $45.00 target price on the stock. HC Wainwright raised their price target on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Finally, Jones Trading started coverage on shares of ArriVent BioPharma in a research report on Tuesday. They set a “buy” rating and a $40.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ArriVent BioPharma presently has a consensus rating of “Buy” and an average price target of $39.29.

ArriVent BioPharma Stock Up 8.2%

The stock’s fifty day moving average price is $19.18 and its two-hundred day moving average price is $24.34. The company has a market capitalization of $716.42 million, a PE ratio of -5.55 and a beta of 1.47.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.24). On average, equities research analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of ArriVent BioPharma during the 1st quarter worth approximately $189,000. Woodline Partners LP grew its holdings in shares of ArriVent BioPharma by 0.4% in the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after purchasing an additional 576 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of ArriVent BioPharma during the first quarter worth approximately $266,000. Infinitum Asset Management LLC grew its stake in ArriVent BioPharma by 25.7% in the first quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock worth $38,205,000 after purchasing an additional 422,315 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of ArriVent BioPharma by 46.3% in the first quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock valued at $1,134,000 after acquiring an additional 19,427 shares in the last quarter. Institutional investors own 9.48% of the company’s stock.

About ArriVent BioPharma

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.