ArriVent BioPharma (NASDAQ:AVBP) Stock Price Expected to Rise, HC Wainwright Analyst Says

ArriVent BioPharma (NASDAQ:AVBP) had its price objective raised by HC Wainwright from $36.00 to $39.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 43.12% from the company’s previous close.

ArriVent BioPharma Stock Up 2.3 %

Shares of ArriVent BioPharma stock opened at $27.25 on Wednesday. The business has a fifty day simple moving average of $26.99 and a 200 day simple moving average of $25.97. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $36.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after purchasing an additional 2,942 shares in the last quarter. Novo Holdings A S raised its stake in ArriVent BioPharma by 39.3% during the 2nd 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 during the period. SG Americas Securities LLC bought a new position in ArriVent BioPharma during the third quarter worth about $280,000. Charles Schwab Investment Management Inc. grew its stake in ArriVent BioPharma by 153.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock valued at $4,756,000 after acquiring an additional 122,641 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ArriVent BioPharma in the third quarter worth about $240,000. Institutional investors own 9.48% of the company’s stock.

About ArriVent BioPharma

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.