ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 5.9% – Should You Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price fell 5.9% on Monday . The stock traded as low as $31.62 and last traded at $31.2480. 158,693 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 520,725 shares. The stock had previously closed at $33.19.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday. Citigroup lowered their target price on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Finally, Truist Financial upped their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.83.

ArriVent BioPharma Trading Up 0.1%

The company has a 50 day simple moving average of $31.01 and a 200 day simple moving average of $26.68. The stock has a market cap of $1.32 billion, a P/E ratio of -8.14 and a beta of 1.29.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.08). As a group, sell-side analysts expect that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tema Etfs LLC bought a new position in shares of ArriVent BioPharma in the 4th quarter valued at about $644,000. AIHC Capital Management Ltd acquired a new position in ArriVent BioPharma during the fourth quarter valued at approximately $12,973,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ArriVent BioPharma by 45.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,743 shares of the company’s stock valued at $95,000 after purchasing an additional 1,485 shares in the last quarter. Group One Trading LLC acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $57,000. Finally, Bank of America Corp DE raised its stake in shares of ArriVent BioPharma by 41.9% during the 1st quarter. Bank of America Corp DE now owns 80,208 shares of the company’s stock worth $1,850,000 after purchasing an additional 23,687 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.