ArriVent BioPharma (NASDAQ:AVBP) Shares Down 6.4% – Time to Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares were down 6.4% during trading on Tuesday . The company traded as low as $20.91 and last traded at $21.08. Approximately 88,327 shares traded hands during trading, a decline of 68% from the average daily volume of 276,939 shares. The stock had previously closed at $22.52.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVBP. Truist Financial started coverage on shares of ArriVent BioPharma in a research note on Tuesday, November 25th. They issued a “buy” rating and a $43.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $42.00 price objective (up previously from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th. Citigroup decreased their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. B. Riley upgraded ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, August 25th. Finally, Zacks Research cut ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.38.

ArriVent BioPharma Price Performance

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -5.74 and a beta of 0.95. The firm has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $20.43.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, November 10th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.05). On average, sell-side analysts forecast that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Several hedge funds have recently modified their holdings of the company. Infinitum Asset Management LLC raised its holdings in shares of ArriVent BioPharma by 25.7% in the first quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock valued at $38,205,000 after buying an additional 422,315 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in ArriVent BioPharma in the 2nd quarter valued at about $1,558,000. Nuveen LLC acquired a new stake in ArriVent BioPharma in the 1st quarter valued at about $819,000. Vanguard Group Inc. raised its stake in shares of ArriVent BioPharma by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company’s stock worth $27,797,000 after acquiring an additional 86,067 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in shares of ArriVent BioPharma during the second quarter worth approximately $277,000. Institutional investors and hedge funds 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.