ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Down to $18.55

ArriVent BioPharma, Inc. (NASDAQ:AVBP) gapped down prior to trading on Monday . The stock had previously closed at $18.55, but opened at $18.15. ArriVent BioPharma shares last traded at $18.02, with a volume of 3,082 shares trading hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of ArriVent BioPharma in a research note on Thursday, June 6th.

ArriVent BioPharma Stock Up 1.4 %

The stock has a 50-day moving average of $18.13.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.14. As a group, research analysts anticipate that ArriVent BioPharma, Inc. will post -3.07 EPS for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $83,000. American International Group Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $87,000. Blackstone Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $446,000. Farallon Capital Management LLC bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $2,711,000. Finally, Altitude Crest Partners Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $9,922,000. 9.48% of the stock is owned by institutional investors and hedge funds.

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.