ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 5.6% – Should You Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price dropped 5.6% during trading on Monday . The company traded as low as $20.71 and last traded at $20.6330. Approximately 155,809 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 483,494 shares. The stock had previously closed at $21.86.

Wall Street Analysts Forecast Growth

AVBP has been the topic of a number of recent research reports. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Cantor Fitzgerald initiated coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They set an “overweight” rating on the stock. Truist Financial started 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. BTIG Research started coverage on shares of ArriVent BioPharma in a research report on Wednesday, December 10th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ArriVent BioPharma presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

ArriVent BioPharma Stock Performance

The company has a fifty day simple moving average of $22.16 and a two-hundred day simple moving average of $20.39. The firm has a market capitalization of $882.98 million, a PE ratio of -5.04 and a beta of 1.02.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AVBP. Mirae Asset Global Investments Co. Ltd. lifted its stake in ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after acquiring an additional 438 shares during the period. Woodline Partners LP lifted its position in ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after purchasing an additional 576 shares during the period. 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. Legal & General Group Plc grew its position in ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after purchasing an additional 1,197 shares during the period. Finally, Bessemer Group Inc. purchased a new position in shares of ArriVent BioPharma during the 3rd quarter valued at about $26,000. 9.48% of the stock is owned by institutional investors.

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.