ArriVent BioPharma (NASDAQ:AVBP) Sets New 52-Week Low – What’s Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price hit a new 52-week low on Monday . The company traded as low as $14.34 and last traded at $16.16, with a volume of 429 shares. The stock had previously closed at $16.42.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Guggenheim began coverage on 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 restated a “buy” rating and set a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Finally, B. Riley initiated coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They set a “buy” rating and a $37.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ArriVent BioPharma has an average rating of “Buy” and a consensus target price of $39.00.

ArriVent BioPharma Price Performance

The company has a market cap of $567.01 million, a price-to-earnings ratio of -6.35 and a beta of 1.66. The firm’s fifty day moving average price is $23.48 and its 200-day moving average price is $26.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.18. As a group, equities analysts forecast that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

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