ArriVent BioPharma (NASDAQ:AVBP) Shares Down 5.8% – Time to Sell?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) fell 5.8% during trading on Friday . The company traded as low as $24.22 and last traded at $23.7450. 77,992 shares traded hands during trading, a decline of 81% from the average session volume of 412,818 shares. The stock had previously closed at $25.20.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AVBP shares. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Citigroup reduced their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Cantor Fitzgerald began coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating on the stock. Truist Financial initiated coverage on ArriVent BioPharma in a research report on Tuesday, November 25th. They issued a “buy” rating and a $43.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

ArriVent BioPharma Price Performance

The stock’s 50-day moving average is $21.91 and its 200-day moving average is $20.33. The stock has a market cap of $963.09 million, a price-to-earnings ratio of -5.50 and a beta of 1.03.

ArriVent BioPharma (NASDAQ:AVBP) last released 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). Analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new position in ArriVent BioPharma in the 3rd quarter valued at about $26,000. Russell Investments Group Ltd. lifted its stake in shares of ArriVent BioPharma by 9,747.6% in the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after acquiring an additional 2,047 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after purchasing an additional 609 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ArriVent BioPharma by 696.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company’s stock valued at $60,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in ArriVent BioPharma by 571.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after purchasing an additional 5,676 shares during the last quarter. Hedge funds and other institutional investors 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. 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.