ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Down – What’s Next?

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) gapped down before the market opened on Thursday . The stock had previously closed at $24.92, but opened at $24.12. ArriVent BioPharma shares last traded at $23.97, with a volume of 4,184 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of ArriVent BioPharma in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, ArriVent BioPharma has an average rating of “Buy” and an average price target of $36.80.

ArriVent BioPharma Price Performance

The stock has a fifty day moving average price of $27.46 and a two-hundred day moving average price of $25.76.

Institutional Investors Weigh In On ArriVent BioPharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in ArriVent BioPharma by 153.8% during 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. Geode Capital Management LLC grew its position in ArriVent BioPharma by 154.2% during the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock valued at $14,036,000 after acquiring an additional 362,221 shares during the period. Barclays PLC grew its position in ArriVent BioPharma by 1,124.8% during the third quarter. Barclays PLC now owns 41,522 shares of the company’s stock valued at $976,000 after acquiring an additional 38,132 shares during the period. State Street Corp grew its position in ArriVent BioPharma by 210.4% during the third quarter. State Street Corp now owns 476,809 shares of the company’s stock valued at $11,205,000 after acquiring an additional 323,186 shares during the period. Finally, BNP Paribas Financial Markets grew its position in ArriVent BioPharma by 32.6% during the third quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company’s stock valued at $516,000 after acquiring an additional 5,397 shares during the period. Hedge funds and other institutional investors own 9.48% of the company’s stock.

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.