ArriVent BioPharma (NASDAQ:AVBP) Sets New 12-Month Low – Should You Sell?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price reached a new 52-week low on Monday . The stock traded as low as $14.34 and last traded at $16.16, with a volume of 429 shares trading hands. The stock had previously closed at $16.42.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Guggenheim started coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They issued a “buy” rating and a $45.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $39.00 price target on shares of ArriVent BioPharma in a research note on Friday, March 7th. Finally, B. Riley started coverage on ArriVent BioPharma in a report on Thursday, March 20th. They issued a “buy” rating and a $37.00 target price for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $39.00.

ArriVent BioPharma Stock Performance

The company has a market cap of $567.01 million, a P/E ratio of -6.35 and a beta of 1.66. The stock has a 50-day simple moving average of $23.48 and a 200 day simple moving average of $26.22.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.18. Sell-side analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Suvretta Capital Management LLC boosted its position in ArriVent BioPharma by 21.7% in the fourth quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company’s stock valued at $59,833,000 after buying an additional 400,838 shares in the last quarter. FMR LLC grew its position in ArriVent BioPharma by 8.7% during the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after acquiring an additional 169,514 shares during the last quarter. Octagon Capital Advisors LP raised its position in ArriVent BioPharma by 4.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company’s stock valued at $54,862,000 after purchasing an additional 83,000 shares during the last quarter. Infinitum Asset Management LLC bought a new stake in shares of ArriVent BioPharma during the fourth quarter worth $43,794,000. Finally, Novo Holdings A S raised its holdings in shares of ArriVent BioPharma by 1.0% in the fourth quarter. Novo Holdings A S now owns 1,520,627 shares of the company’s stock valued at $40,510,000 after buying an additional 15,312 shares during the last quarter. 9.48% of the stock is owned by institutional investors.

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.