ArriVent BioPharma (NASDAQ:AVBP) Shares Down 3.9%

Posted by Shelly Janes on Jun 28th, 2024

ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report) was down 3.9% during mid-day trading on Friday . The company traded as low as $16.69 and last traded at $16.72. Approximately 18,563 shares traded hands during trading, a decline of 87% from the average daily volume of 138,573 shares. The stock had previously closed at $17.40.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of ArriVent BioPharma in a report on Thursday, June 6th.

Check Out Our Latest Stock Report on AVBP

ArriVent BioPharma Stock Performance

The company has a 50 day moving average of $17.97.

ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.14. As a group, equities analysts expect that ArriVent BioPharma, Inc. will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Several institutional investors have recently made changes to their positions in the business. Farallon Capital Management LLC bought a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $2,711,000. Blackstone Inc. bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $446,000. Hhlr Advisors LTD. bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $70,174,000. Altitude Crest Partners Inc. bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $9,922,000. Finally, American International Group Inc. bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $87,000. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Company Profile

(Get Free Report)

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.