ArriVent BioPharma (NASDAQ:AVBP) Shares Down 3.2% – Should You Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares traded down 3.2% on Wednesday . The stock traded as low as $21.93 and last traded at $21.5960. 72,351 shares were traded during mid-day trading, a decline of 75% from the average session volume of 291,928 shares. The stock had previously closed at $22.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AVBP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, October 8th. BTIG Research initiated coverage on ArriVent BioPharma in a research report on Wednesday, December 10th. They issued a “buy” rating and a $45.00 price target for the company. Zacks Research raised ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Cantor Fitzgerald assumed coverage on ArriVent BioPharma in a research note on Monday. They issued an “overweight” rating for the company. Finally, Truist Financial assumed coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They issued a “buy” rating and a $43.00 target price for the company. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

ArriVent BioPharma Price Performance

The stock has a market capitalization of $891.48 million, a PE ratio of -5.09 and a beta of 0.95. The firm has a fifty day moving average price of $20.98 and a two-hundred day moving average price of $20.61.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data 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, research analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. purchased a new stake in shares of ArriVent BioPharma during the third quarter valued at about $26,000. Russell Investments Group Ltd. increased its holdings in shares of 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 acquiring an additional 2,047 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in ArriVent BioPharma by 31.0% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank increased 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 raised its holdings in shares of ArriVent BioPharma by 571.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after buying an additional 5,676 shares during the last quarter. 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.