ArriVent BioPharma Sees Unusually High Options Volume (NASDAQ:AVBP)

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of some unusual options trading activity on Friday. Traders purchased 1,832 call options on the stock. This represents an increase of approximately 321% compared to the average volume of 435 call options.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bessemer Group Inc. bought a new position in shares of ArriVent BioPharma during the 3rd quarter valued at approximately $26,000. Russell Investments Group Ltd. lifted its holdings in ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after purchasing an additional 2,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ArriVent BioPharma by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after purchasing an additional 438 shares during the period. BNP Paribas Financial Markets increased its stake in shares of ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock worth $56,000 after purchasing an additional 609 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in shares of ArriVent BioPharma during the 4th quarter valued at $57,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on AVBP. Citigroup decreased their price objective on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. BTIG Research assumed coverage on shares of ArriVent BioPharma in a research report on Wednesday, December 10th. They issued a “buy” rating and a $45.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of ArriVent BioPharma in a research note on Monday, December 22nd. They set an “overweight” rating for the company. HC Wainwright raised their price target on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Research raised ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ArriVent BioPharma currently has an average rating of “Moderate Buy” and a consensus target price of $40.22.

ArriVent BioPharma Stock Down 4.8%

AVBP traded down $1.20 during trading on Friday, hitting $24.05. The company’s stock had a trading volume of 450,018 shares, compared to its average volume of 458,693. The business’s 50 day simple moving average is $22.17 and its 200-day simple moving average is $20.89. The firm has a market cap of $992.78 million, a PE ratio of -5.67 and a beta of 0.99. ArriVent BioPharma has a one year low of $15.47 and a one year high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.09. Equities research analysts expect that ArriVent BioPharma will post -2.74 EPS for the current fiscal year.

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.