Stock Traders Purchase High Volume of Call Options on ArriVent BioPharma (NASDAQ:AVBP)

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw some unusual options trading activity on Monday. Stock investors purchased 6,424 call options on the company. This is an increase of 1,214% compared to the typical volume of 489 call options.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. HC Wainwright boosted their price objective on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, March 6th. B. Riley Financial raised their target price on shares of ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Truist Financial boosted their price objective on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ArriVent BioPharma currently has an average rating of “Moderate Buy” and a consensus price target of $43.38.

ArriVent BioPharma Stock Up 2.6%

AVBP traded up $0.84 during trading on Monday, reaching $32.58. The company had a trading volume of 227,266 shares, compared to its average volume of 500,425. ArriVent BioPharma has a 52 week low of $16.10 and a 52 week high of $34.06. The business has a 50 day simple moving average of $29.36 and a 200-day simple moving average of $25.06. The stock has a market cap of $1.52 billion, a P/E ratio of -9.37 and a beta of 1.41.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). As a group, equities research analysts expect that ArriVent BioPharma will post -3.9 EPS for the current fiscal year.

Institutional Trading of ArriVent BioPharma

Several hedge funds and other institutional investors have recently bought and sold shares of AVBP. Seven Fleet Capital Management LP purchased a new position in ArriVent BioPharma in the first quarter valued at about $1,159,000. Glenmede Trust Co. NA purchased a new position in ArriVent BioPharma in the 1st quarter worth $209,000. Vivo Capital LLC acquired a new stake in shares of ArriVent BioPharma during the first quarter worth about $20,438,000. Bank of America Corp DE lifted its stake in ArriVent BioPharma by 41.9% during the 1st quarter. Bank of America Corp DE now owns 80,208 shares of the company’s stock valued at $1,850,000 after acquiring an additional 23,687 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new stake in ArriVent BioPharma in the first quarter valued at $3,272,000. 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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.