ArriVent BioPharma (NASDAQ:AVBP) Sees Strong Trading Volume – Should You Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares saw unusually-high trading volume on Friday . Approximately 494,557 shares traded hands during mid-day trading, an increase of 197% from the previous session’s volume of 166,502 shares.The stock last traded at $16.79 and had previously closed at $16.94.

Analysts Set New Price Targets

A number of research firms have weighed in on AVBP. B. Riley started coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They set a “buy” rating and a $37.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research report on Friday, March 7th. Finally, Guggenheim initiated coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They issued a “buy” rating and a $45.00 price target for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ArriVent BioPharma has an average rating of “Buy” and a consensus price target of $39.00.

ArriVent BioPharma Stock Down 2.8 %

The stock has a fifty day simple moving average of $23.70 and a 200-day simple moving average of $26.25. The company has a market capitalization of $560.07 million, a P/E ratio of -6.42 and a beta of 1.00.

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. Analysts predict that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

A number of hedge funds and other institutional investors have recently made changes to their positions in AVBP. MetLife Investment Management LLC grew its holdings in ArriVent BioPharma by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after acquiring an additional 1,110 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ArriVent BioPharma during the fourth quarter valued at approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ArriVent BioPharma by 8.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock valued at $456,000 after purchasing an additional 1,327 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after purchasing an additional 1,416 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in ArriVent BioPharma by 17.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company’s stock worth $293,000 after purchasing an additional 1,620 shares during the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

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.