ArriVent BioPharma (NASDAQ:AVBP) Sets New 52-Week High – Still a Buy?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $34.24 and last traded at $32.56, with a volume of 589 shares traded. The stock had previously closed at $31.98.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVBP shares. HC Wainwright lifted their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Citigroup lifted their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. The Goldman Sachs Group increased their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Oppenheimer restated an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $36.80.

ArriVent BioPharma Stock Up 2.1 %

The firm has a fifty day simple moving average of $27.44 and a two-hundred day simple moving average of $22.38.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.65). As a group, equities research analysts forecast that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current year.

Institutional Trading of ArriVent BioPharma

A number of hedge funds have recently made changes to their positions in AVBP. Vanguard Group Inc. purchased a new stake in ArriVent BioPharma during the first quarter valued at about $11,586,000. AlphaCentric Advisors LLC raised its holdings in shares of ArriVent BioPharma by 3.6% during the 2nd quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after buying an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in ArriVent BioPharma in the 1st quarter worth approximately $83,000. Novo Holdings A S boosted its stake in ArriVent BioPharma by 39.3% in the second quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $27,825,000 after buying an additional 422,860 shares in the last quarter. Finally, American International Group Inc. bought a new position in ArriVent BioPharma during the first quarter valued at approximately $87,000. 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.